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Rocket Lab narrows loss as revenue climbs
['The Wall Street Journal']
BusinessDesk | NZ breaking news and commentary on business, NZX and politics
Revenue grew to US$234.1m, up from US$144.5m a year prior.
(Image: Supplied)By Elias SchisgallRocket Lab narrowed its loss and reported rising revenue in the second quarter as its backlog ballooned.The launch and space systems company on Monday reported a loss of US$49.3 million (NZ$83.8m), or 8 US cents a share, compared with a loss of US$66.4m, or 13 US cents a share, a year earlier.Revenue grew to US$234.1m, up from US$144.5m a year prior.
Product revenues nearly doubled to US$181.3m from US$92.7m, while service revenues ticked up to US$52.7m from US$51.8m.Analysts polled by FactSet were expecting a loss of 6 US cen...