Rivian Stock Jumps Double Digits After Huge Q3 Beat and Bullish 2025 Outlook

This article first appeared on GuruFocus.

Rivian Automotive (NASDAQ:RIVN) shares surged nearly 15% on Wednesday morning after the electric vehicle maker delivered third-quarter results that topped Wall Street expectations.

Revenue climbed 78% year over year to $1.56 billion, beating analyst forecasts of about $1.5 billion. Automotive sales rose 47% to $1.14 billion, driven by higher deliveries and improved average selling prices. Software and services revenue surged more than 300% to $416 million, reflecting growing adoption of Rivian’s in-house vehicle software platform.

The company posted a profit of $24 million, reversing a loss from the prior year. Adjusted per-share loss narrowed to $0.65, ahead of market estimates for a $0.72 loss. Vehicle deliveries hit 13,201 units, marking a record quarterly total, while production reached 10,720 vehicles at its Illinois plant.

Rivian maintained its full-year adjusted EBITDA loss outlook of $2 billion to $2.25 billion and capital spending of up to $1.9 billion. It also reaffirmed plans to launch its lower-cost R2 SUV in the first half of 2026.

Wedbush reiterated an Outperform rating and a $16 price target, saying the results showed strong top-line execution despite rising costs tied to R2 development and autonomous technology investments.