Stock Track | Viasat Stock Plummets After Disappointing Earnings and Revenue Decline

Stock Track11-07

Viasat Inc. (NASDAQ: VSAT), a global communications company, saw its stock price plummet by 5.64% on November 7th, 2024, following the release of its fiscal second-quarter earnings results for the period ended September 30th, 2024. The company reported an adjusted loss of $1.07 per share, significantly higher than analysts' expectations of a loss of $0.54 per share. Additionally, revenue declined by 8.4% year-over-year to $1.12 billion, although it slightly beat analysts' estimates of $1.11 billion.

The disappointing earnings results and revenue decline were primarily attributed to several challenges faced by the company, including declining fixed broadband and maritime revenue, as well as constraints in new aircraft deliveries and capacity issues related to the ViaSat 3.1 antenna anomaly.

However, during the earnings call, Viasat's management highlighted some positive developments, such as better-than-expected revenue and adjusted EBITDA growth, record contract awards totaling approximately $1.3 billion, successful refinancing of nearly $2 billion in secured notes, and progress in multi-orbit, multiband integration to enhance competitiveness in aviation and government sectors. The company also mentioned that it is actively exploring strategic alternatives, particularly in China, to capitalize on growth opportunities.

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(NASDAQ: VSAT), a global communications company, saw its stock price plummet by 5.64% on November 7th, 2024, following the release of its fiscal second-quarter earnings results for the ...</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":"VSAT","symbol_name":"卫讯公司","start_time":0,"source_url":"","article_id":"1147219846","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1147219846","pubTimestamp":1730990828,"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":"Viasat Inc. , a global communications company, saw its stock price plummet by 5.64% on November 7th, 2024, following the release of its fiscal second-quarter earnings results for the period ended September 30th, 2024. 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