Rocket Lab USA, Inc. (RKLB) experienced a significant after-hours plunge of 12.96% on Thursday following the release of its weaker-than-expected fourth-quarter results and amid growing concerns about intensifying competition in the space industry.
The company reported Q4 revenue of $84 million, falling short of the analyst consensus estimate of $130.6 million. While Rocket Lab managed to meet the earnings per share (EPS) estimate, its net income remained negative at -$52.3 million, highlighting ongoing financial challenges.
Furthermore, the space sector has witnessed a surge in activity, with companies like Intuitive Machines and Firefly Aerospace making strides in their lunar exploration efforts and securing contracts. This heightened competition could potentially impact Rocket Lab's market position and future prospects, weighing on investor sentiment.
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