Rocket Lab stock jumps 40.6% after strong quarterly earnings and product updates

Rocket Lab's stock surged 40.6% this week after the company reported strong third-quarter earnings. Revenue increased 55% year over year to $105 million, driven by growth in its space systems segment. The company's backlog also grew 80% to $1.05 billion. Since going public in 2021, Rocket Lab's revenue has risen 484%. It is one of the few commercial rocket providers, second only to SpaceX in launches. However, the company reported a $139 million operating loss over the past year due to heavy investments. The Neutron rocket is key to Rocket Lab's future growth. It will have a larger payload and compete directly with SpaceX. The company plans to charge around $55 million per launch, which could significantly boost revenue if successful.