Rocket Lab Owns 2/3 of the U.S. Launch Market -- That Isn't SpaceX
When Rocket Lab (NASDAQ: RKLB) reported second-quarter earnings last week, it ignited a multiday rally that sent its stock price soaring as much as 18%. And no wonder.
Sales at the small space rocket manufacturer soared 71% year over year, beating analyst forecasts. The per-share loss for the quarter was $0.08 -- not great -- but still better than the $0.10 loss that Wall Street forecast.
In fact, Chief Executive Officer Peter Beck said Q2 was Rocket Lab's "highest revenue quarter in company history" -- no great surprise given that each succeeding quarter shows revenue growth. But Beck also said that Rocket Lab is seeing "strong and growing demand for our launch services and space systems products," such as the Electron rocket, Photon kick stage spacecraft, and satellites built for the U.S. Space Force. The company is also making progress on new products to power profit in the future.
Source Fool.com
