Apple Partner Globalstar Stock Is Falling After Q3 Performance - What's Going On?
Portfolio Pulse from Anusuya Lahiri
Globalstar, Inc (NYSE:GSAT) reported Q3 FY23 sales growth of 53% YoY to $57.7 million, beating the consensus of $53.7 million. Adjusted EBITDA was $32 million, up 125% YoY. Q3 operating income was $2.0 million, compared to a loss of $186.6 million in the year-ago period. Net loss was $6.2 million, compared to a net loss of $204.4 million a year ago. The company revised its FY23 revenue outlook to $215 million - $230 million. GSAT shares are trading lower by 1.79% at $1.38.
November 02, 2023 | 6:30 pm
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Globalstar reported strong Q3 FY23 results, beating consensus estimates and revising its FY23 revenue outlook upwards. Despite this, GSAT shares are trading lower.
Globalstar reported strong Q3 FY23 results, with sales growth of 53% YoY and a significant increase in adjusted EBITDA. The company also revised its FY23 revenue outlook upwards. Despite these positive results, GSAT shares are trading lower, which could be due to market factors or investor sentiment not reflected in the earnings report.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100