Stock Track | Globalstar Soars 12.43% in Pre-market on Robust Q3 Performance and Upbeat Outlook

Stock Track11-09

Shares of satellite communications provider Globalstar Inc. (GSAT) surged 12.43% in pre-market trading on November 8, 2024, driven by the company's impressive third-quarter financial results and optimistic full-year guidance, which were released after the market close on November 7.

In the third quarter of 2024, Globalstar reported a significant beat on revenue expectations, with sales reaching $72.307 million, surpassing the analyst consensus estimate of $60.337 million by a whopping 19.84%. This solid top-line performance was accompanied by robust profitability, as the company posted a pretax profit of $11.666 million and an operating income of $9.434 million for the quarter.

Furthermore, Globalstar provided an encouraging full-year 2024 revenue guidance, projecting a range of $245-250 million, up from its previous anticipated range of $235-250 million. The company also raised its adjusted EBITDA margin outlook to approximately 54%, from the previously anticipated 53%. This upbeat outlook, coupled with the strong third-quarter results, fueled investor optimism and contributed to the stock's substantial pre-market rally.

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(GSAT) surged 12.43% in pre-market trading on November 8, 2024, driven by the company's impressive third-quarter financial results and ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GSAT","symbol_name":"全球星","start_time":0,"source_url":"","article_id":"1104685052","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1104685052","pubTimestamp":1731153419,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of satellite communications provider Globalstar Inc.  surged 12.43% in pre-market trading on November 8, 2024, driven by the company's impressive third-quarter financial results and optimistic full-year guidance, which were released after the market close on November 7.In the third quarter of 2024, Globalstar reported a significant beat on revenue expectations, with sales reaching $72.307 million, surpassing the analyst consensus estimate of $60.337 million by a whopping 19.84%. 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