The company reported a net loss of $2 billion, or $0.20 per share, compared to a net income of $7.8 billion, or $0.76 per share, in the prior-year period. This quarter’s results include a pre-tax valuation loss of $3.9 billion associated with the company’s investment in Rivian Automotive.
For the third quarter of 2022, net sales are expected to range between $125-130 billion, representing a year-over-year growth of 13-17%.
The top line beat market estimates sending the stock soaring over 12% in after-market hours on Thursday.
ADVERTISEMENT
Prior performance
