Rocket Lab Stock Falls on Mixed Earnings Report

Dow Jones
Aug 11

Shares of Rocket Lab fell in after hours trading Monday after the space launch services and technology provider reported mixed earnings.

It reported a loss of eight cents a share on revenue of $234.1 million. Analysts were expecting a loss of three cents a share on revenue of $231.6 million.

Shares were down 3.4% at $77.30 shortly after the report came out.

Rocket Lab stock has risen sharply over the past 12 months, by nearly 80%, as it has announced more government contracts, higher revenue, and a more than $2 billion backlog in secured orders. Last week it announced a $397 million contract with the U.S. Space Force to develop and launch specialized, flat satellites.

Originally founded in 2006 in New Zealand by its current CEO Peter Beck to develop suborbital rockets, Rocket Lab is not yet profitable.

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