Virgin Galactic posts $73-million loss in first earnings report as a publicy traded company

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Virgin Galactic posts $73-million loss in first earnings report as a publicy traded company GlobeBusiness

Richard Branson stands on the floor of the New York Stock Exchange ahead of Virgin Galactic's trading debut on Oct. 28, 2019.Billionaire Richard Branson’s space tourism company, Virgin Galactic Holdings Inc, said on Tuesday net losses widened to $73 million in the fourth quarter from $46 million in the year-ago period, in its first financial results as a publicly traded company.

The fourth-quarter results come as the money-losing company is aiming for a first flight later this year with Branson on board, while seeking a new source of revenue in thousands of potential space travelers.

 

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