$RIVN reports mixed Q1 results, but trims capex forecast and sees Q4 'gross profit'
💵 Revenue: $1.204 vs $1.175B expected
💲 Loss per share: $1.45 vs $1.15 expected
📉 Operating loss: $1.484B vs $1.299B expected
High inflation and a disappointing report on economic growth — followed by a sudden drop in stocks late last month — make for a familiar economic combination.
Tesla sold 62,167 China-made electric vehicles in April, down 18% from a year earlier, China Passenger Car Association (CPCA) data showed on Tuesday.
Tesla's biggest Chinese rival BYD sold 312,048 passenger vehicles in April, up 48.97% YoY.
"It's a fundamentally solid quarter," Roth MJM managing director Rohit Kulkarni says on $RDDT Q1 earnings. "They're executing well, and they're on their way to profitability much sooner than expected."
Lyft forecasts strong quarterly earnings as ride-hailing demand picks up
💵 Revenue: $1.28B vs $1.17B expected
🚗 Active riders: 21.9M vs 21.76M expected
"Inflation has been real," Whole Foods CEO Jason Buechel says. "We've increased the number of promotions for our customers. As a result, we've actually seen double-digit unit growth in promotional items. That's customers telling us that value is really important for them."
Q1 "was strong, particulary on the top line," D.A. Davidson senior research analyst Tom White says on $LYFT. The "second quarter guide was also a bit better too. They largely affirmed the outlook for the full year."