Virgin Galactic Posts Smaller Loss Than Expected, Improves Cash Position

Virgin Galactic Posts Smaller Loss Than Expected, Improves Cash Position
Virgin Galactic's passenger rocket plane VSS Unity is seen in New Mexico on July 11, 2021. Joe Skipper/Reuters
Reuters
Updated:

Space tourism company Virgin Galactic Holdings Inc on Tuesday posted a smaller-than-expected quarterly loss and said its cash position had improved, sending its shares 5 percent higher in extended trading.

The company founded by billionaire Richard Branson held about $931 million in cash as of Dec. 31, compared with $679 million a year earlier.