December 7, 2023

Bobbys Brane

Bobbys Brane – Business & Tech Blog

Viasat posts upbeat sales on satellite-based broadband services strength By Reuters

1 min read

© Reuters. FILE PHOTO: A Viasat corporate logo is shown on a sign at the company’s headquarters in Carlsbad, California, U.S. March 9, 2022. Picture taken March 9, 2022. REUTERS/Mike Blake/File Photo

(Reuters) – Viasat reported second-quarter revenue on Wednesday that beat Wall Street estimates on strength in the segment that offers satellite-based broadband services.

Shares of the company, that offers connectivity and communications services to residential, aviation and defense customers in North America, rose about 9% to $19.34 in extended trading.

Viasat now expects full-year 2024 actual revenue to rise in the range of $4.10 billion to $4.25 billion.

The company posted second-quarter revenue of $1.23 billion, above analysts’ estimates of $1.07 billion, according to LSEG data.

On an adjusted basis, Viasat reported earnings before interest, tax, depreciation and amortization (EBITDA) of $486.3 million, compared with estimates of $359.6 million.

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