Rocket Lab's evolution sees its quarterly profits take off

Rocket Lab has lifted its revenue to a new quarterly record. 

It's posted just under $476 million, up about $60 million on the previous quarter. 

The company also signed about $1.78 billion in new launch contracts, bringing its backlog to 117 launches. 

Moomoo Market Strategy Consultant Greg Boland told Ryan Bridge it's helped itself by branching out from being just a rocket business. 

He says it's evolved into manufacturing satellites, spacecraft components, and providing launch services. 

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