Virgin Galactic Holdings Inc.
inventory fell greater than 5% within the prolonged session Monday after the space-tourism firm reported a wider-than-expected quarterly loss and mentioned it continues to see pandemic-related, ongoing delays in its enterprise and operations. Virgin reported a internet lack of $130 million, or 55 cents a share, within the first quarter, in contrast with a internet lack of $377 million within the first quarter of 2020. Analysts polled by FactSet anticipated Virgin to report a GAAP lack of 28 cents a share for the quarter. The corporate mentioned it ended the quarter with $617 million in money and equivalents. “We proceed to make strides in direction of our strategic goals and have stable momentum as we concentrate on finishing our flight take a look at program,” Chief Govt Michael Colglazier mentioned in a press release. Virgin Galactic ended the common buying and selling session down 8.5%.