Virgin Galactic Stock Climbs After Better-Than-Expected Q2 Results
Portfolio Pulse from Erica Kollmann
Virgin Galactic Holdings, Inc. (NYSE:SPCE) shares rose after the company reported better-than-expected Q2 results. The company posted a quarterly loss of $4.36 per share, beating estimates by 11.56%, and revenue of $4.22 million, surpassing estimates by 25.56%. The net loss improved to $94 million from $134 million in the same period last year. The company also made significant progress on its Delta Class spaceship program.
August 07, 2024 | 9:35 pm
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Virgin Galactic reported better-than-expected Q2 results, with losses per share beating estimates by 11.56% and revenue surpassing expectations by 25.56%. The net loss improved to $94 million from $134 million last year. The company also made significant progress on its Delta Class spaceship program.
The better-than-expected Q2 results, including a significant beat on both earnings and revenue, along with an improved net loss and progress on the Delta Class spaceship program, are likely to positively impact Virgin Galactic's stock price in the short term.
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