Rocket Lab stock jumps 34% after revenue beat and record launch deal
Updated
Updated · CNBC · May 8
Rocket Lab stock jumps 34% after revenue beat and record launch deal
9 articles · Updated · CNBC · May 8
The Long Beach company posted $136.7 million in space systems revenue and $63.7 million in launch revenue, both above estimates, while backlog more than doubled to $2.2 billion.
It forecast second-quarter revenue of $225 million to $240 million, above LSEG expectations, and said its biggest-ever contract covers Neutron and Electron launches for a confidential customer through 2029.
Shares have more than quadrupled in a year amid rising space-economy demand; the rally also lifted peers as Rocket Lab prepares Neutron's first launch after a January testing setback.
As defense projects fuel the space boom, is the industry's trillion-dollar valuation built on sustainable commercial demand?
With its crucial Neutron rocket delayed, can Rocket Lab truly challenge industry giants in the lucrative medium-lift market?
Is Rocket Lab's strategy of buying robotics companies the key to dominating the new commercial space race?