CARLSBAD, Calif. (AP) _ ViaSat Inc. (VSAT) on Thursday reported a loss of $12.4 million in its fiscal first quarter.
On a per-share basis, the Carlsbad, California-based company said it had a loss of 20 cents.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 43 cents per share.
The provider of satellite and wireless networking technology posted revenue of $530.5 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $514.9 million.
ViaSat shares have dropped 47% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $38.57, a drop of 49% in the last 12 months.