Viasat announced second-quarter earnings on Wednesday that surpassed expectations due to their satellite-based broadband services.
The company’s stock rose 9% to $19.34 in after-hours trading.
Viasat updated their 2024 revenue outlook to between $4.10 billion and $4.25 billion.
Second-quarter revenue totaled $1.23 billion, higher than the expected $1.07 billion according to LSEG data.
Adjusted EBITDA was $486.3 million, compared to the estimated $359.6 million.