Viasat shares fall as slowing fixed broadband hurts revenue outlook
May 21 (Reuters) -Viasat VSAT.O forecast annual revenue below Wall Street estimates in anticipation of a slowdown in its satellite services business, sending its shares down more than 11% after the bell on Tuesday.
The company said it expects revenue from its satellite services to decline in low to mid-single digits as its U.S. fixed broadband business faces competition from wireless carriers such as T-Mobile US TMUS.O that offers cheaper plans.
As a result, Viasat has been shifting its focus from fixed broadband to mobility business that provides satellite-based connectivity solutions to governments across sectors.
The company, which counts the U.S. government as a customer, had acquired British rival Inmarsat in a $7.3 billion deal last year, as it looks to broaden its satellite and land-based communications services.
However, an uncertain economy and intense competition from rival satellite service providers such as Starlink have weighed on Viasat.
Viasat President Guru Gowrappan told Reuters in an interview that governments are wary of relying on any one particular partner to avoid dependency and they like options.
The company competes with Intelsat, L3Harris Technologies LHX.N and EchoStar SATS.O among others in its government systems segment.
Viasat's quarterly government systems segment revenue rose 77% to $385.8 million from a year ago, while analysts were expecting $340 million.
It forecast revenue to be nearly flat for fiscal 2025 from a year earlier. Analysts were expecting a nearly 7% growth to $4.57 billion, according to LSEG data.
The satellite communications firm's fourth-quarter revenue came in at $1.15 billion, narrowly beating expectations of $1.09 billion.
It posted per-share loss of 80 cents compared with profit per share of $15.56 a year ago. Its quarterly net loss from continuing operations rose to $90 million from $62 million a year ago due to higher interest expense tied to Inmarsat deal.
Reporting by Jaspreet Singh in Bengaluru; Editing by Mohammed Safi Shamsi and Arun Koyyur
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.