Viasat Inc Up 9.98% To $19.51 After Earnings Beat

Viasat Inc (VSAT) surpassed earnings projections on 11/8/2023 for Q2 2024.

Viasat Inc's earnings came in at an EPS of $1.19 per share, 120.00% higher than estimates for an EPS of $0.54 per share. The firm's earnings are up 761% since reporting losses of $0.18 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $1.2 billion. That is an increase of 86.54% in revenues from the year-ago report and is 14.49% higher than consensus estimates set at $1.1 billion.

The stock is up 9.98% to $19.51 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Viasat Inc a Bearish Sentiment Rank from InvestorsObserver.

Viasat Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 5, putting Viasat Inc in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $15.02 on October 6, 2023 and set a 52-week high on June 2, 2023 at $47.35.

Viasat Inc provides bandwidth technologies and services in three segments: satellite services, which provides satellite-based high-speed broadband services to consumers, enterprises, and commercial airlines; commercial networks, which develops end-to-end communication and connectivity systems; and government systems, which produces network-centric Internet Protocol-based secure government communication systems. A large majority of the firm's revenue is generated in the United States, with the rest coming from the Americas, Europe, Middle East, Africa, and Asia-Pacific.