By Al Root

Satellite operator Viasat reported results and forward guidance that roughly matched Wall Street estimates.

That wasn't good enough, though, for a stock this hot.

Viasat late Thursday announced fiscal fourth-quarter earnings before interest, taxes, depreciation, and amortization, or Ebitda, of $370 million from sales of $1.2 billion. Wall Street was looking for a $383 million and $1.2 billion, respectively, according to FactSet.

A year ago, Viasat reported Ebitda of $375 million from sales of $1.1 billion.

For fiscal 2027, the company expects "mid-single-digit" revenue growth with Ebitda roughly flat year over year. That's in line with Wall Street projections. Analyst model Ebitda of $1.54 billion and sales of $4.7 billion.

Things looked about as expected. Still, shares fell 7% to $80.62 on Friday, while the S&P 500 and Dow Jones Industrial Average gained 0.2% and 0.7%, respectively. That's a relatively small move considering the starting point. Through Thursday trading, Viasat stock was up 846% over the past 12 months.

The company, which delivers broadband and communications services from space, has been helped by a few things. For starters, there has been new business, such as a contract from the U.S. Space Force.

Another factor is SpaceX. It's on the cusp of a record-setting IPO, which will value the company at about $2 trillion. That valuation has captured investors' imaginations about what's possible in space.

Many space-related stocks have soared lately, caught in the SpaceX halo. Through Thursday trading, shares of communications satellite operator AST SpaceMobile were up 437% over the past 12 months.

SpaceX has also been snapping up wireless spectrum, pushing up valuations for the frequencies that carry wireless calls and data. SpaceX's deals with EchoStar pushed EchoStar's shares up about 557% over the past 12 months.

Write to Al Root at allen.root@dowjones.com

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May 29, 2026 16:54 ET (20:54 GMT)

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