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In recent news, communications tech firm Viasat (VSAT.O) experienced a significant drop of approximately 12% in its shares after announcing a flat revenue growth forecast for FY 2025. This forecast is a stark contrast to the expected 7% increase, as reported by LSEG.
The decline in revenue is attributed to an anticipated decrease in revenue from Viasat’s U.S. fixed broadband internet business. The company is shifting its focus towards higher margin units, leading to the subdued revenue outlook.
During Q4, Viasat reported a net loss attributable to common shareholders of 80 cents per share, compared to a profit of $15.56 per share the previous year. Year-to-date, the stock has seen a decline of nearly 31%.
Stay updated with the latest news in the financial world. M&T Bank Corporation recently announced an increased common stock dividend, while Alvotech saw a rise in Q1 revenue. On the regulatory front, TPC Group faced a $30 million fine over the 2019 Texas blasts that led to evacuations.
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