Viasat (VSAT) Misses Q1 Revenue Estimates on Fixed Broadband Decline, Maritime Delays; Shares Slide

Viasat Inc. (NASDAQ: VSAT) reported first-quarter revenue of $1.17 billion on May 29, missing analysts' forecasts and sending shares down 8.2% to $79.54. The satellite communications provider posted a non-GAAP loss of $0.02 per share, significantly below consensus, as a decline in fixed residential broadband and slower-than-expected maritime installations pressured results. Revenue rose 2.1% year over year, but management cited intensifying competition in aviation services. The Defense & Advanced Technologies segment grew at a double-digit pace, partially offsetting weakness. CEO Mark Dankberg said results were largely in line with internal plans despite headwinds from a U.S. government shutdown. Viasat's outlook hinges on new satellite deployments and the Equatys joint venture to expand bandwidth inventory and enter commercial markets. CFO Gary Chase cautioned that aviation growth may slow, while fixed broadband stabilization depends on the ViaSat-3 satellite entering service. The company is targeting higher growth in defense and commercial segments amid ongoing competitive pressures.