Globalstar's shares dropped 11% despite a 27% Q4 sales increase to $52.4m, missing projected EPS of $0.00.
Globalstar's shares dropped 11% after it reported a 27% increase in Q4 sales to $52.4m, but missed the projected EPS of $0.00. The satellite communications company warned that investments it's making will weigh on margins in the short term. Meanwhile, Gilat Satellite Networks reported EPS of $0.11, surpassing analyst estimates of $0.06, and had revenues of $75.61m for Q4. Gilat's Q4 revenue was up 11% year-on-year to $75.6m, and its full-year revenues reached $266.1m.
February 28, 2024
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