RTTNews | Aug 5, 2021 12:27PM EDT

12:26 Thursday, August 5, 2021 (RTTNews.com) - Colorado-based earth intelligence and space research company Maxar Technologies Inc (MAXR) is trading 10% lower in the market after the company reported a weaker second quarter on Thursday. Both revenue and earnings missed estimates.

The net income for the company was $45 million or $0.60 per share from $306 million or $4.94 per share in the same quarter last year. Eight analysts polled by Thomson Reuters estimated the earnings to be $1.06 per share.

Maxar recorded better revenue in the quarter as it increased to $473 million from $439 million last year. Six analysts projected a $560.3 million revenue.

The shares are currently trading at $30.68, down $3.32 or 9.76% since their previous close at $34.00. the shares opened at $28.98 and in the 52-week period, the shares have ranged between $21.05 and $58.75. The shares have also lost 24% of their value in the last one month.

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