U.S. Markets closed

Virgin Galactic Reports Q1 Earnings, Secures NASA Space Contract

Tanzeel Akhtar

Virgin Galactic Holdings (NYSE: SPCE) reported quarterly losses of 30 cents per share on Tuesday, which missed the analyst consensus estimate by 15 cents. This is a 36.36% decrease over losses of 22 cents per share from the same period last year.

The company reported $238 million in sales this quarter, which is a 86.64% decrease over sales of $1.782 billion the same period last year.

Virgin Galactic’s wholly owned subsidiary, the Spaceship Company, also announced today the signing of a Space Act Agreement with NASA to collaborate and advance the U.S. efforts to produce technically feasible, high Mach vehicles for potential civil applications.

View more earnings on SPCE

Virgin Galactic Holdings shares were trading up 6% at $17.64 in Tuesday’s after-hours session. The stock has a 52-week high of $42.49 and a 52-week low of $6.90.

Related Links:

Blue Origin, SpaceX Land NASA Deal

Musk Vs. Bezos Vs. Branson: Who's Winning The Space Tourism Race?

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.