Rocket Lab USA Inc (NASDAQ:RKLB) reported record second quarter revenue that exceeded Wall Street expectations, while its quarterly loss was wider than analysts had forecast, as the company continued to invest in its Neutron rocket and other growth initiatives. Revenue for the quarter ended June 30 reached $234 million, up 62% year over year and ahead of estimates of roughly $231.6 million to $...
Rocket Lab (NASDAQ: RKLB) delivered record revenue and backlog in the second quarter, yet its shares fell after earnings as investors focused on execution. Revenue rose 62% to $234.1 million, while backlog jumped 137% to $2.36 billion.
The company is looking to expand its reach in Europe and building up its backlog.
The launch and space systems company narrowed its loss and reported rising revenue as it ended its second quarter with a backlog of $2.36 billion, up 137% year-over-year.
Rocket Lab forecast third-quarter profit margin below Wall Street expectations on Monday, as higher costs tied to ramping up launch services and space-systems production weighed on profitability.
Rocket Lab stock rose slightly ahead of its earnings report on Monday. Shares rallied 27% last week.
Rocket Lab stock has staged a strong comeback in the past few days, moving from this month's low of $57.8 to $82.83, its highest point since July 9. It has jumped by 43% from its lowest level this month, mirroring the performance of other space companies, including popular names like SpaceX and Planet Labs.