RTTNews | May 11, 2021 07:13AM EDT

07:12 Tuesday, May 11, 2021 (RTTNews.com) - Shares of Virgin Galactic Holdings, Inc. (SPCE) are down more than 19% in pre-market on Tuesday after reporting another quarter of net loss in the first quarter.

The company said it is continuing to experience delays to its business and operations due to Covid-19. The next flight schedule also remains uncertain.

Net loss in the first quarter was $129.67 million or $0.55 per share, compared with net loss of $376.88 million or $1.86 per share in the same quarter a year ago. Analysts polled by Thomson Reuters expected the company to report loss of $0.27 per share.

The company did not earn any revenue during the quarter compared with $238000 last year. The consensus estimate was for $330000.

SPCE closed Monday's trading t $17.95, down 8.47%. The stock is currently at $14.38.

Read the original article on RTTNews ( https://www.rttnews.com/3193728/stock-alert-virgin-galactic-plunges-19-in-pre-market-following-q1-results-operational-delays.aspx)

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