Virgin Galactic Announces Fourth Quarter and Full Year 2022 Financial Results and Provides Business Update
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Virgin Galactic Holdings (SPCE) shares slide as losses widen
March 1, 2023 9:20 AM ESTVirgin Galactic Holdings (NYSE: SPCE) shares are trading lower early Wednesday after it missed fourth-quarter earnings expectations.
The spaceflight company posted a loss per share of $0.55 on revenue of $870 thousand. Analysts expected a loss per share of $0.51, however, revenue topped the $342.62 thousand consensus estimate.
SPCE shares are down over 3% on the back of the report, adding to its over 36% decline in the last 12 months.
The company's net loss widened to $151 million, compared to the $81 million net loss in the fourth quarter of 2021. For the full year 2022, its net loss widened to $500... More
