00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Rocket Lab reported first quarter revenue of $200.4 million,
00:08surpassing consensus estimates of about $190 million
00:11as revenue rose 63% year-over-year, according to Benzinga.
00:16Space Systems revenue increased 57% year-over-year,
00:20and launch services revenue climbed 79% year-over-year
00:24after the company completed eight electron and hasty launches during the quarter.
00:28Needham raised its price target on the space firm to $120 from $95
00:32and maintained a buy rating after citing stronger-than-expected results,
00:37a growing backlog, and progress on the Neutron rocket program.
00:41Rocket Lab's backlog reached $2.2 billion,
00:45up 106% year-over-year, and included new contracts.
00:50The firm raised its 2026 revenue estimate to $905.8 million
00:55from $827.7 million and increased its 2027 revenue estimate
01:01to $1.277 billion from $1.099 billion.
01:05Shares were up by 8.08% at $113.99 in Tuesday's pre-market trading,
01:12according to data from Benzinga Pro.
01:14For all things money, visit Benzinga.com.
01:16go Whoa Rhin VI
01:16I'm feeling it'll be safe!
01:17it'll be safe!
01:17aboutí™”
01:17the
01:17the
01:17the
01:17You
Comments