ViaSat (VSAT) Tops Q2 EPS by 31c, Revenues Beat
ViaSat (NASDAQ: VSAT) reported Q2 EPS of ($0.15), $0.31 better than the analyst estimate of ($0.46). Revenue for the quarter came in at $517.5 million versus the consensus estimate of $470.07 million.
"We are executing on our objective of converting our investments in prior periods into significant revenue and Adjusted EBITDA growth now in fiscal year 2019. We entered the year with a substantial order book and we're capitalizing on that by ramping activation of In-Flight Connectivity (IFC) on commercial airlines and delivering products and mobile broadband services to government customers. Satellite services segment revenues are accelerating on a more diversified base including residential, IFC, enterprise and community Wi-Fi applications – while our government segment is also reflecting the benefits of many of these same investments," said Mark Dankberg, Viasat chairman and CEO. "Strong sequential and quarter-over-quarter Adjusted EBITDA growth is indicative of the earnings potential as we scale these businesses. Exceptional new order activity helps highlight the momentum we are achieving in our target markets, yielding record levels of backlog, and lending confidence to sustained growth through the balance of the fiscal year and beyond. The near term momentum behind these more global services reinforces the medium- and long-term potential that will be enabled by our groundbreaking ViaSat-3 constellation."
For earnings history and earnings-related data on ViaSat (VSAT) click here.