CARLSBAD, Calif. (AP) _ ViaSat Inc. (VSAT) on Thursday reported a loss of $11.5 million in its fiscal first quarter.
On a per-share basis, the Carlsbad, California-based company said it had a loss of 19 cents. Earnings, adjusted for one-time gains and costs, came to 10 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 29 cents per share.
The provider of satellite and wireless networking technology posted revenue of $537 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $503.3 million.
ViaSat shares have increased 32% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $77.77, an increase of 11% in the last 12 months.