Rivian Automotive and Ferrari both beat estimates last week but for opposite reasons. Rivian narrowed its net loss to $837 million from $1.15 billion a year earlier, raised its delivery forecast to 65,000 to 70,000 vehicles, and saw revenue rise 27% to $1.66 billion as its cheaper R2 SUV reached customers. Ferrari raised full-year revenue guidance to about €7.6 billion and adjusted operating profit to at least €2.26 billion, even though it shipped 128 fewer cars than a year earlier, with declines in the Americas, China, and the rest of Asia. Ferrari's operating profit rose to €605 million, a 31.2% margin, driven by stronger personalization spending and deliveries of its priciest models. Rivian still posted an $837 million quarterly loss, while its automotive business alone, excluding software, lost $36 million.
