Viasat Makes Significant Revenue Gains in Latest Results
Viasat achieved revenues of $517.5 million in the three months to the end of September. This represents a year-on-year increase of 31.6 percent, compared to $393.1 million in the same quarter last year – a significant increase.
As for its satellite services segment, it achieved revenues of $163 million, representing an increase both year-on-year and sequentially. Year-on-year growth was primarily driven by fixed broadband internet service revenue increases and accelerating commercial aviation In-Flight Connectivity (IFC) gains, as commercial aircraft in service grew by 56 percent compared to the second quarter of fiscal year 2018, bringing revenues from services other than fixed broadband to nearly 20 percent of segment revenues.
“We entered the year with a substantial order book and we’re capitalizing on that by ramping activation of IFC on commercial airlines and delivering products and mobile broadband services to government customers. Satellite services segment revenues are accelerating on a more diversified base including residential, IFC, enterprise and community Wi-Fi applications – while our government segment is also reflecting the benefits of many of these same investments,” said Viasat Chairman and Chief Executive Officer (CEO) Mark Dankberg. “The near term momentum behind these more global services reinforces the medium- and long-term potential that will be enabled by our groundbreaking ViaSat-3 constellation.”