Viasat “on track” with 2% revenue rise
August 9, 2022
By Chris Forrester
California-based Viasat has told shareholders that its Q1 results are on track and that the operator is “confident” in achieving its 2023 expectations.
Revenue for Q1/2023 – its current trading year – was $678 million (€662m), a 2 per cent Y-o-Y increase from Q1/2022.
“Satellite Services earned record revenue in Q1/2023, where growth in in-flight connectivity (IFC) service revenue more than offset a decline in fixed broadband service revenue, largely as a consequence of allocating more of our existing bandwidth to IFC,” said a Viasat statement.
“We continue to target launch of ViaSat-3 (Americas) in Q3/2023 with commencement of commercial service in early Q4/2023. The last subsystems are being integrated onto the satellite in preparation for final environmental, vibration and acoustic testing. The ground infrastructure has passed initial performance tests and residential terminals are operating. In early July, the second ViaSat-3 (EMEA) payload module was delivered to Boeing for integration and testing, with launch targeted for mid-calendar year 2023. The third ViaSat-3 (APAC) payload has 80 percent of the modules installed and is preparing for payload performance testing,” added Viasat.
Its Satellite Services division achieved record revenues of $312 million, up 14 per cent Y-o-Y. Viasat ended the quarter with its IFC equipment installed on 1,930 aircraft and another 500 expected to be added this fiscal year.