Rocket Lab results match Wall Street estimates, company adds contracts for 10 launches
Publishing timestamp: 2023-08-09 11:53:49
Summary
Rocket Lab reported second-quarter results that largely met Wall Street's expectations. The company added contracts for 10 more Electron rocket launches in 2023 and 2024. The net loss was wider than expected, but revenue grew 12% year over year. Rocket Lab's stock rose about 3% in after-hours trading. The company also achieved significant milestones in the development of its Neutron rocket and expects to begin construction of the launch site in Virginia. Rocket Lab is progressing towards its first Neutron launch and has added orders for 10 Electron rocket launches.
Sentiment: NEUTRAL
Tickers: RKLB,
Keywords: the edge, space industry, breaking news: technology, transportation, technology, breaking news: business, business news, aerospace and defense industry, rocket lab usa inc, business,
Source: https://www.cnbc.com/2023/08/08/rocket-lab-rklb-q2-earnings-report.html