Virgin Galactic's Biggest Earnings Secret, Revealed!
As you've probably heard by now, space tourism company Virgin Galactic (NYSE: SPCE) delivered its fourth-quarter earnings last week. The news was not good -- and indeed, since the report was released, Virgin Galactic stock has fallen by 28% in just five trading days.
Mind you, nobody expected spectacular results. Because the company is still in the start-up phase of its life (or, in the jargon of Wall Street, "pre-revenue"), analysts didn't expect to see much, if anything, on its top line. With plenty of expenses and no revenue to offset them, investors were prepared to see losses of as much as $0.31 per share on the bottom line, too. And as it turned out, that's exactly what Virgin Galactic reported -- a $0.31 per share loss.
Yet Virgin Galactic still did manage to surprise the market in one respect.
Source Fool.com
