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Virgin Galactic says first commercial flight still ‘on track’ for late June

Clyde Edgerton by Clyde Edgerton
May 9, 2023
in Markets
Virgin Galactic says first commercial flight still ‘on track’ for late June
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Virgin Galactic Holdings Inc. SPCE, the space-travel company founded by Richard Branson, reported a deeper loss than expected during its first quarter and sales that came up shy of expectations, but said its first planned commercial flight was on track for late June. Virgin Galactic reported a first-quarter net loss of $159.4 million, or 57 cents a share, compared with $93.1 million, or 36 cents a share, in the same quarter last year. Revenue rose to $392,000, compared with $319,000 in the prior-year quarter. Analysts polled by FactSet expected a per-share loss of 52 cents, on revenue of $1.1 million. Shares dipped 0.2%…



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