Rivian Automotive reported mixed first-quarter results, with a revenue of $1.204 billion, surpassing expectations of $1.175 billion, but faced a significant earnings miss with a net loss of $1.446 billion, wider than the anticipated $1.299 billion. The company also reported an earnings per share (EPS) loss of $1.45, against expectations of $1.15, and an adjusted EBITA loss of $798 million. Despite the financial setbacks, Rivian reaffirmed its production forecast of 57,000 vehicles for 2024 and announced a reduction in its capital expenditure forecast for the year from $1.7 billion to $1.2 billion. The automaker's cost-cutting measures and operational adjustments continue as it aims for improved financial health, although it lost $38,798 per vehicle built in Q1.