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Virgin Galactic Holdings Inc. (NYSE:SPCE) shares are trading higher Tuesday morning. Investors are reacting to the company’s latest quarterly financial results.
Earnings Beat Estimates
After the closing bell Monday, the aerospace firm reported a fourth-quarter loss of 98 cents per share. This figure beat analyst estimates for a loss of $1.05 per share. However, revenue of $312,000 missed the $495,000 target.
SpaceShip Assembly Progress
CEO Michael Colglazier noted the first new SpaceShip is nearly complete. Ground testing will begin in April. The company has released limited Spaceflight Expeditions priced at $750,000 each.
“We continue to strategically manage our capital to support our planned …
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