Virgin Galactic Stock Is Falling: What's Going On?
Portfolio Pulse from Adam Eckert
Virgin Galactic Holdings Inc (NYSE:SPCE) reported Q2 revenue of $1.87 million, missing the consensus estimate of $2.69 million. The company reported an adjusted loss of 46 cents per share, beating analyst estimates for a loss of 51 cents per share. The loss was wider than the prior year, primarily due to increased R&D expenses. The company's cash position remains strong, with $980 million as of June 30. Virgin Galactic anticipates revenue of approximately $1 million in both Q3 and Q4.
August 04, 2023 | 10:30 am
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Virgin Galactic's Q2 results missed revenue estimates but beat loss per share estimates. The company's cash position remains strong, but the stock price fell in after-hours trading.
Virgin Galactic's Q2 results were mixed, with revenue missing estimates but the loss per share beating expectations. This mixed performance, along with the company's strong cash position, could have a negative short-term impact on the stock price, as reflected in the after-hours trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100