Viasat, a company that provides connectivity and communication services to residential, aviation, and defense customers in North America, has reported second-quarter revenue that exceeded Wall Street estimates. The company’s satellite-based broadband services segment contributed to this positive performance.
Shares of Viasat saw a significant increase of about 9% to $19.34 in extended trading following the announcement.
Viasat now expects its full-year revenue in 2024 to be between $4.10 billion and $4.25 billion.
The company’s second-quarter revenue reached $1.23 billion, surpassing analysts’ expectations of $1.07 billion.
On an adjusted basis, Viasat’s earnings before interest, tax, depreciation, and amortization (EBITDA) stood at $486.3 million, compared to the estimated $359.6 million.
This strong performance indicates Viasat’s continued success in providing broadband services and meeting the demands of its customers.
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