Virgin Galactic shares climb even though Q2 earnings didn’t meet expectations

LAS CRUCES, N.M. (AP) _ Virgin Galactic Holdings, Inc. (SPCE) on Thursday reported a loss of $94 million in its second quarter.

On a per-share basis, the Las Cruces, New Mexico-based company said it had a loss of 39 cents.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 30 cents per share.

The company posted revenue of $571,000 in the period.

Virgin Galactic shares have climbed 33% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $31.53, a climb of 56% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPCE at https://www.zacks.com/ap/SPCE