Globalstar Inc.'s stock plummeted as much as 10.95% in Friday's pre-market trading session, following the satellite communications provider's disappointing fourth quarter earnings report on Thursday.
The company reported a significantly wider net loss of $0.42 per share for Q4, missing analysts' consensus estimate of a $0.06 loss per share by a large margin. While Globalstar's quarterly revenue of $61.2 million exceeded expectations, the massive earnings miss appeared to be the primary driver behind the sharp sell-off in the stock.
Despite reiterating its full-year 2025 revenue guidance of $260 million to $285 million, which was in line with Wall Street's $263 million forecast, this outlook failed to alleviate investor concerns following the company's disappointing Q4 performance.
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