Uber reported first-quarter revenue on Wednesday that missed estimates, but the ride-hailing giant issued bookings guidance for the current quarter that exceeded analysts’ expectations. The stock jumped 8% following the earnings release. Here’s how the company did versus Wall Street’s expectations, according to estimates compiled by LSEG: Earnings per share: 13 cents vs. 70 cents expected Revenue: $13.2…
Rivian Automotive on Thursday said it has renegotiated a $6.57 billion loan from the U.S. Department of Energy down to $4.5 billion and is adjusting its production expectations at an under-construction plant in Georgia. The DOE loan was previously set to support two phases of production for a total of 400,000 units annually. The amended…
Tesla owner Mike Nelson has been using the AI chatbot Grok in his vehicle for several months now. He finds it is useful, nearly irresistible, and dangerous. Nelson, a lawyer with a background in auto insurance, showed CNBC how he uses Grok on a drive around the New York metro area. Nelson said that while…
Derek Sylvester with members of his family, team and mascot Molly, who was featured on the dealership’s logo. Courtesy Sylvester Chevrolet Derek Sylvester’s father built the family’s original Chevrolet dealership with his bare hands on Main Street in rural Peckville, Pennsylvania, in 1972. The store and family have been a pillar of the village, outside…
The Rivian R2 is on display during the 2025 Los Angeles Auto Show at the Los Angeles Convention Center on Nov. 23, 2025 in Los Angeles, California. Josh Lefkowitz | Getty Images Uber Technologies plans to invest up to $1.25 billion in electric vehicle maker Rivian Automotive as part of a deal to deploy up…
Rivian CEO RJ Scaringe reacts at an event to unveil a smaller R2 SUV in Laguna Beach, California, on March 7, 2024. Mike Blake | Reuters Rivian Automotive will launch sales of its crucial R2 all-electric vehicle this spring with a roughly $58,000 special edition model, the company announced Thursday. The first of the R2…
Rivian Automotive on Thursday beat Wall Street’s fourth-quarter expectations and said it’s targeting a significant increase in vehicle deliveries this year, but the automaker also cautioned that it will continue losing money as it launches its crucial R2 next-generation vehicle. Rivian’s 2026 guidance includes increasing vehicle deliveries to between 62,000 and 67,000 units, which would…
We’re through the busiest part of the earnings season storm, with most of the world’s biggest tech firms already in. Nonetheless, this week brings numbers from two more portfolio names — plus, three important economic reports. According to FactSet, nearly three-quarters of the 59% of S & P 500 companies that have reported quarterly results…
Employees work on the assembly line of new energy vehicles (NEVs) at a workshop of China FAW Group’s Hongqi Fanrong Plant on July 5, 2023 in Changchun, Jilin Province of China. Zhang Yao | China News Service | Getty Images DETROIT — The unraveling of the U.S. electric vehicle push is increasingly raising concerns of…
All-electric vehicle maker Rivian is dealing with a lot: the end of federal support for EVs, a surge in hybrid vehicle sales and a rate of cash burn that still alarms investors, among other things. The company also has relatively low production and delivery numbers, but Rivian CEO RJ Scaringe told CNBC in a December…
