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Rivian loses $1.45 billion as cost-cutting measures continue

Rivian lost 1.45billioninthefirstquarter,showingthatitsrecentcompanywidecostcuttingmeasureshaveawaystogobeforeitcanapproachprofitability.TheEVmakerbroughtin1.45 billion in the first quarter, showing that its recent company-wide cost-cutting measures have a ways to go before it can approach profitability.The EV-maker brought in 1.2 billion in revenue in the period, coming in just under its record haul from the prior quarter, according to its first-quarter earnings report that was released Tuesday after markets closed. That’s slightly more than the 1.16billionexpectedbyYahooFinanceanalysts. Riviansrevenuegrew821.16 billion expected by Yahoo Finance analysts. Rivian’s revenue grew 82% from the 661 million it ...