ViaSat Earnings: Here’s Why Investors are Happy Now
ViaSat Inc. (NASDAQ:VSAT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.77%.
ViaSat Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.11 in the quarter versus EPS of $-0.18 in the year-earlier quarter.
Revenue: Rose 32.82% to $321.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ViaSat Inc. reported adjusted EPS income of $0.11 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $299.05 million.
Quoting Management: “We’re proud to have achieved our sixth consecutive quarter of record revenue,” said Mark Dankberg, chairman and CEO of ViaSat. “Broadband satellite services are leading the way, but growth was again strong throughout the company. EBITDA surged 78% compared to this quarter last year due to the cumulative effect of Exede® subscriber and ARPU growth, continued strength in government systems despite the challenging federal spending environment, and solid performance in commercial products. Earnings are growing even while we are almost doubling R&D investments as we pursue opportunities for growth. We launched Exede VoIP, are close to bringing Exede in-flight Wi-Fi into service, and are building on our achievements in government mobile broadband. In addition, with ViaSat-2 now on the horizon, we’re cultivating even more opportunities to expand global markets for satellite broadband services and technology.”
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