Rocket Lab propelled higher by expectation beating financials

Rocket Lab (NASDAQ:RKLB) shares rose 13.5% in Friday’s trading session, up to $5.42, after the launching company reported a 71% increase in revenue for its second quarter, totalling $106 million.

It exceeded Wall Street's expectations, pitched slightly lower, at $105.5 million.

Similarly, at $0.08 Rocker Lab’s loss per share was better than the forecast of $0.10.

The company, which recently tested its new Archimedes rocket engine and is developing its next rocket, Neutron, told investors that it signed 17 new launch contracts and made significant progress on the development of the Neutron rocket’s flight hardware.