ViaSat: Fiscal 1Q Earnings Snapshot

·1 min read

CARLSBAD, Calif. (AP) _ ViaSat Inc. (VSAT) on Thursday reported a loss of $12.4 million in its fiscal first quarter.

On a per-share basis, the Carlsbad, California-based company said it had a loss of 20 cents.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 43 cents per share.

The provider of satellite and wireless networking technology posted revenue of $530.5 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $514.9 million.

ViaSat shares have dropped 47% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $38.57, a drop of 49% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VSAT at https://www.zacks.com/ap/VSAT