Virgin Galactic Reports Another Quarter Without Revenue

Virgin Galactic Holdings (NYSE: SPCE) generated no revenue in the first quarter and posted a wider than expected loss, a fresh reminder of the challenges the space tourism company faces in the months to come. On Monday after markets closed Virgin Galactic reported a first-quarter loss of $0.55 per share on zero revenue, well short of analyst expectations for a $0.27 per share loss on revenue of $330,000. Investors knew coming into the quarterly results that Virgin Galactic would report a loss but were hoping to hear an update on whether the company would meet its self-imposed May deadline for the next test flight of a SpaceShipTwo spaceplane.