Globalstar Q2: 50% Revenue Jump, Tightened FY23 Outlook & More
Portfolio Pulse from Nabaparna Bhattacharya
Globalstar, Inc. (GSAT) reported Q2 FY23 sales growth of 49.7% YoY to $55.072 million, beating the consensus of $51.59 million. The company's EPS for the quarter was $0.00, compared with the consensus of $(0.01) loss. The revenue increase was due to both service revenue and subscriber equipment sales. The company also reported an increase in adjusted EBITDA and operating income. Globalstar narrowed its FY23 revenue outlook to $200 million-$230 million. GSAT shares are trading higher by 5.36% at $1.18.
August 04, 2023 | 1:55 pm
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Globalstar's Q2 FY23 results beat consensus with a 49.7% YoY sales growth. The company also reported an increase in adjusted EBITDA and operating income. The company's shares are trading higher.
Globalstar's Q2 FY23 results exceeded expectations, with a significant increase in sales and positive changes in adjusted EBITDA and operating income. This positive financial performance is likely to boost investor confidence, leading to an increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100