Strong revenue growth, first Neutron deal [Video]

Rocket Lab shares surged in trading Wednesday after the company reported third-quarter results and announced its first customer for its coming Neutron vehicle.

Shares of Rocket Lab jumped as much as 53% in Wednesday trading before paring gains to close up 28%, at $18.83 a share. The stock briefly surpassed its all-time high, a previous highest close of $20.72 a share in September 2021 that came shortly after the company completed its SPAC merger.

The space infrastructure company on Tuesday reported third-quarter revenue increased to $104.8 million, up 55% from $67.6 million for the same period a year ago, and above Wall Street’s expectation of $102 million, according to analysts surveyed by LSEG.

Its net loss also increased year over year, to $51.9 million from $40.6 million, but its loss of 10 cents per share came in slightly below analyst expectations of a …