Virgin Galactic (SPCE) Stock Blasts Off On Q3 Earnings: Astronauts Report 'Overwhelmingly Positive Experience'
Portfolio Pulse from Adam Eckert
Virgin Galactic Holdings Inc (NYSE:SPCE) reported Q3 results with revenue of $1.7 million, more than double YoY, driven by commercial spaceflight and membership fees. The company reported a net loss of 28 cents per share, improved from a loss of 55 cents per share in the prior year's quarter. Virgin Galactic ended the quarter with $1.1 billion in cash, equivalents and marketable securities. The company expects Q4 revenue of approximately $3 million and forecasts having sufficient capital to achieve positive cash flow in 2026.
November 08, 2023 | 9:31 pm
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Virgin Galactic's Q3 results show improved financial performance with doubled revenue and reduced net loss. The company's stock price increased by 17.9% after hours.
Virgin Galactic's Q3 results show a significant improvement in financial performance with doubled revenue and reduced net loss. This positive news has led to a significant increase in the company's stock price in after-hours trading. The company's outlook for Q4 and beyond also appears positive, which could further support the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100