Viasat shares fall as slowing fixed broadband hurts revenue outlook
- Viasat 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, 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. 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.
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