May 21, 2024
Viasat shares fall as slowing fixed broadband hurts revenue outlook
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The company said it expects revenue from its satellite services to decline in low to mid-single digits as its U.S. fixed broadband business faces competition from wireless carriers such as T-Mobile US that offers cheaper plans.
As a result, Viasat has been shifting its focus from fixed broadband to mobility business that provides satellite-based connectivity solutions to governments across sectors.
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Viasat President Guru Gowrappan told Reuters in an interview that governments are wary of relying on any one particular partner to avoid dependency and they like options.
https://finance.yahoo.com/news/viasat-shares-fall-slowing-fixed-224948194.html
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