By Kimberly Chin

Rivian Automotive Inc. said its loss widened in the fourth quarter as expenses rose.

The electric-truck startup said its loss attributable to common shareholders widened to $2.46 billion from $354 million in the year-earlier period. On a per-share basis, the loss was $4.83, compared with $3.50 a year ago.

Research and development expenses ballooned to $726 million from $255 million a year earlier. Selling, general and administrative expenses rose to $682 million from $98 million in the prior year.

The company recorded $54 million in revenue. In the same period a year earlier, it didn't post any revenue. Analysts were expecting $60.5 million in revenue, according to FactSet

Rivian said it delivered 909 vehicles in the quarter.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

March 10, 2022 17:07 ET (22:07 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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