Rocket Lab says contract backlog tops $1 billion, outlines Neutron progress toward first launch
Publishing timestamp: 2024-02-27 17:55:36
Summary
Rocket Lab is making progress on its Neutron vehicle development, with a growing contract backlog above $1 billion. The company reported a net loss for the fourth quarter, but revenue grew 16% year over year. Rocket Lab's shares slipped in after-hours trading, but the company forecasted first-quarter revenue between $92 million and $98 million. The company also announced updates on the development of its Neutron rocket and expansion of its spacecraft products.
Sentiment: MIXED
Tickers: RKLB,
Keywords: space industry, business news, technology, breaking news: technology, aerospace and defense industry, earnings, breaking news: business, peter beck, the edge, business, rocket lab usa inc, space exploration, transportation, science,
Source: https://www.cnbc.com/2024/02/27/rocket-lab-rklb-q4-2023-results.html