Virgin Galactic Earnings Were Better Than Expected: Is the Stock a Buy?
Virgin Galactic Holdings (NYSE: SPCE) rocketed higher on Wednesday after earnings, more because of the company's optimistic forecast than because of its actual results. The shares even after that jump are still well off their highs, but investors should exercise caution before jumping on board.
Wall Street wasn't expecting much from Virgin Galactic's fourth quarter, but the company managed to lose a little less than expected. The company reported a $0.31-per-share loss on $141,000 in revenue, compared to analyst expectations for a $0.34-per-share loss on $330,000 in sales.
Image source: Virgin Galactic.
Source Fool.com
