VSAT - Viasat dips 6% as it swings to loss misses revenues in Q4

Viasat (NASDAQ:VSAT) has turned 5.7% lower after hours following its fiscal fourth-quarter earnings, where the company missed expectations on top and bottom lines and swung to a net loss amid some higher costs tied to its ViaSat-3 service launch. Revenues grew by just under 18% year-over-year to $701.7 million, a figure that was down sequentially by about 2.5% and missed consensus. Satellite services contributed heavily to that gain, thanks to 40% more in-flight connectivity aircraft in service vs. the prior year. The revenue gains included the impact of acquisitions of RigNet and EBI that it wrapped up during the quarter; organic revenue grew 8% year-over-year. The company swung to a net loss of $29 million vs. a prior-year gain of $7 million. Adjusted EBITDA fell 9% as the company boosted costs to ramp up for launching ViaSat-3, as well as "increased investments in growth R&D enabled by earnings in prior

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Viasat dips 6% as it swings to loss, misses revenues in Q4