What's Going On With Virgin Galactic (SPCE) Stock Today?
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 cash, equivalents and marketable securities of $980 million. Virgin Galactic anticipates revenue of approximately $1 million in both Q3 and Q4.
August 04, 2023 | 11:27 am
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NEGATIVE IMPACT
Virgin Galactic's Q2 results missed revenue estimates but beat loss per share estimates. The company's cash position remains strong.
Virgin Galactic's Q2 revenue missed estimates, which is likely to negatively impact the stock price in the short term. However, the company beat loss per share estimates and maintains a strong cash position, which could mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100