ViaSat (VSAT) Tops Q1 EPS by 20c, Revenues Beat
ViaSat (NASDAQ: VSAT) reported Q1 EPS of ($0.30), $0.20 better than the analyst estimate of ($0.50). Revenue for the quarter came in at $438.9 million versus the consensus estimate of $429.75 million.
"Our first quarter results signal a promising start toward driving meaningful growth in fiscal year 2019, by capitalizing on the service launch of ViaSat-2 and leveraging prior year research and development (R&D) and infrastructure investments," said Mark Dankberg, chairman and CEO of Viasat. "All segments contributed to 15% year-over-year revenue growth and even stronger 29% year-over-year new contract awards growth, which together build confidence in sustained or accelerating growth for the fiscal year as a whole. Prior investments in network and business infrastructure create the opportunity for significant margin expansion as we accumulate the benefits of growing revenues in residential, IFC, government, Wi-Fi and enterprise broadband services over the course of the fiscal year."
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