Viasat Satellite Services Revenue Reaches New High in Q2 2019
Viasat reported its financial results for its fiscal Second Quarter (Q2) 2019, ended Sept. 30, in which revenues increased. Total revenues were $592.3 million, a 14 percent increase compared to Q2 2018. Additionally, adjusted EBITDA for Q2 2o19 was $118.2 million, an increase of 53 percent compared to the same period last year.
Viasat’s Satellite Services segment reached a new revenue high of $205.7 million, a 26 percent increase year-over-year and a 5 percent increase sequentially; which marked the seventh sequential quarter of revenue gains. It’s Government Systems segment reported revenue at $298.5 million, a 24 percent year-over-year increase. Yet its Commercial Networks segment saw a 24 percent year-over-year revenue decrease to $88 million.
“Sustained momentum in Satellite Services and Government Systems segments delivered record results and continued margin expansion,” said Mark Dankberg, Viasat chairman and CEO. “Our latest in-flight connectivity (IFC) wins, including our first entry into South America with Azul and expansion to EL AL’s full global fleet, are further proof points of our ability to leverage our leading North American reputation globally. We are focused on converting a healthy pipeline for global IFC opportunities, propelled by continued progress on the ViaSat-3 constellation, into sustained growth and market leadership. Record backlog, a solid quarterly book-to-bill of 117%, gains in fixed broadband subscriber average revenue per user (ARPU), mobile tail count, an expanding government segment addressable market, and leading competitive positions in attractive broadband vertical and geographic markets all create opportunities for continued growth.”