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ViaSat shares fall on earnings miss
Posted: Thu, Aug 14, 2014, 1:31 PM ET (1731 GMT)
Shares in broadband satellite communications provider ViaSat fell by nearly ten percent Wednesday after its earnings fell short of expectations. While ViaSat reported an increase in adjusted EBITDA in the first quarter of its 2015 fiscal year, its earnings of $0.05 per share was well below analysts' expectations of $0.14 per share prior to the release. Shares in the company dropped by more than $4 per share, to just over $53 per share, at the close of trading Wednesday. The company also reported flat subscriber numbers for its satellite Internet service, although the company said that the range of services it offers means investors should focus more on revenue and gross profit.
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