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Rivian faces a crucial test in its Q4 2023 earnings report as EV stocks lose appeal. The company's gross margins took a hit, but there are other factors at play. Earnings results show Rivian's revenue at $1.32 billion, missing expectations, while Lucid Motors also fell short on revenue. Both companies are impacted by intense competition in the EV market, raising questions about the industry's growth waves and profit potential.
$LCID (-5%) and $RIVN (-15%) both missed on revenue, earnings and outlook at EV competition intensifies
$RIVN - Confirmation that the EV industry is between growth waves? And EV market profit potential is permanently impaired? https://t.co/CCrQYOUXqe
Earnings Results (sans $NVDA): $LCID: - Rev $157.2 million vs $178 million - Loss/SHR 29C $RIVN: - Rev: $1.32 billion vs $1.25 billion $ETSY: - EPS 62C vs 78C - Rev: $842.3 M vs $827.3 Link: https://t.co/Q2LOTrNnz0
