La catena delle opzioni mostra i dati chiave delle opzioni azionarie di Globalstar a vari prezzi di esercizio e date di scadenza. I trader utilizzano queste informazioni per analizzare potenziali operazioni e valutare il sentiment del mercato per Globalstar..

Globalstar (AMEX:GSAT) Azioni, Catena delle Opzioni

Globalstar

Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services. Mobile satellite services are typically used by customers where existing terrestrial wireline and wireless communications networks are impaired or do not exist. The company provides communications services such as two-way voice and data transmission. In addition, one-way data transmission is also offered. Both services are offered using mobile or fixed devices. The company is an owner of satellite assets. The company generates the vast majority of its revenue within the United States.

Globalstar Inc

Globalstar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>) stock surged Friday after it disclosed expanding its <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1366868/000136686824000105/gsat-20241029.htm" target="_blank" rel="noreferrer noopener">strategic partnership with</a> Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) in a newly updated $1.1 billion services agreement. 
Under this extended deal, Globalstar will provide Apple with enhanced satellite services, covering the development, launch and operation of a new mobile satellite services (MSS) network. This agreement builds on the existing service terms.
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The revised agreements enable Globalstar to deliver these services through a new MSS network featuring a fresh satellite constellation, expanded ground facilities and broader MSS licensing worldwide. The new MSS network will be owned by a subsidiary known as Globalstar Licensee, which Globalstar will continue to manage and operate.
Apple will provide substantial prepayments, including up to $1.1 billion, to fund the Extended MSS Network's construction and operational phases. These funds will also cover related costs like infrastructure and debt repayment.
Additionally, Apple has agreed to acquire 400,000 Class B Units in Globalstar Licensee, giving it a 20% equity stake for $400 million.
In exchange for these expanded satellite services, Apple will pay Globalstar incremental service fees tied to the cost of the MSS network, additional services and associated expenses, including performance-based bonuses.
A portion of these payments will be contingent on achieving certain milestones, including service levels and regulatory approvals. Moreover, the deal specifies annual service fees of $30 million, which are set to accelerate under the new agreement terms.
Globalstar and Apple have agreed on a structure allowing for quarterly redemption of Apple's Class B Units, starting once Apple recovers the total amount of the prepayment. Globalstar retains the right to repurchase these units under certain conditions, while Apple can initiate redemption in case of specific contract breaches by Globalstar.
The parties also adjusted Globalstar's 2023 Funding Agreement by removing cash sweeps, relaxing certain covenant conditions, deferring repayment start dates to 2026, and strengthening Globalstar's obligations under the 2024 Prepay Agreement with additional lien security.
Globalstar reported <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40258112/apples-satellite-connectivity-provider-globalstars-q2-revenue-grows-10-on-wholesale-capacity-surge-" rel="noreferrer noopener">fiscal second-quarter 2024</a> sales growth of 10% to $60.4 million, beating the&nbsp;consensus estimate of $57.2 million.&nbsp;Adjusted EBITDA was $32.6 million. Globalstar expects revenue of $235 million–$250 million&nbsp;versus the&nbsp;consensus of $237.5 million.
GSAT Price Action: Globalstar stock is up 32.90% at $1.39 at publication Friday.
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This article was generated using artificial intelligence and was reviewed by Benzinga editors
Photo: Shutterstock

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Apple Satellite Connectivity Provider Globalstar Stock Surges After Deal Extension

U.S. stocks were higher, with the Dow Jones index gaining around 450 points on Friday.
Shares of Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) rose sharply during Friday's session as the company posted stronger-than-expected results for the <a href="https://www.benzinga.com/quote/AMZN">third quarter on Thursday</a>.
Amazon reported third-quarter net sales of $158.9 billion, up 11% year-over-year. The total beat a Street consensus estimate of $157.2 billion, according to data from Benzinga Pro. The company said it sees fourth-quarter net sales to come in a range of $181.5 billion to $188.5 billion, up 7% to 11% year-over-year.
Amazon.com shares jumped 7.1% to $199.63 on Friday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Proto Labs, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRLB#NYSE">PRLB</a>) shares jumped 31.8% to $36.10 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter adjusted EPS guidance with its midpoint above estimates.</li>
<li>Interface, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TILE#NASDAQ">TILE</a>) gained 30% to $22.72 after the company reported better-than-expected third-quarter financial results and raised its FY24 net sales guidance above estimates.</li>
<li>Globalstar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>) jumped 25.3% to $1.3145 after the company amended its services agreement with Apple to launch an extended MSS network with new satellites and infrastructure.</li>
<li>ADMA Biologics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADMA#NASDAQ">ADMA</a>) gained 19.7% to $19.52.</li>
<li>Waters Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAT#NYSE">WAT</a>) rose 17.3% to $378.98 after the company reported third-quarter earnings and sales that beat analyst estimates.</li>
<li>Avis Budget Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAR#NASDAQ">CAR</a>) gained 16.5% to $96.73 following third-quarter results.</li>
<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) climbed 15.8% to $218.37 after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates.</li>
<li>Pediatrix Medical Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MD#NYSE">MD</a>) rose 15.6% to $14.26 following better-than-expected quarterly earnings.</li>
<li>ASP Isotopes Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASPI#NASDAQ">ASPI</a>) gained 14.2% to $7.98. ASP Isotopes announced the pricing of public offering of common stock.</li>
<li>Select Medical Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEM#NYSE">SEM</a>) surged 13.2% to $36.32 following better-than-expected quarterly earnings.</li>
<li>Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) gained 12% to $366.93 after the company reported better-than-expected quarterly EPS and revenues.</li>
<li>Liberty Broadband Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBRDA#NASDAQ">LBRDA</a>) gained 11.5% to $89.49.</li>
<li>Halozyme Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HALO#NASDAQ">HALO</a>) gained 9.9% to $55.56 after the company reported better-than-expected quarterly financial results and issued FY24 adjusted EPS guidance above estimates.</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) rose 9.6% to $14.92.</li>
<li>MasTec, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) surged 8.2% to $133.01 after the company raised its FY2024 adjusted EPS guidance.</li>
<li>Chart Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NASDAQ">GTLS</a>) gained 8.1% to $130.46 following quarterly results.</li>
<li>Dorman Products, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DORM#NASDAQ">DORM</a>) gained 7.9% to $123.05 following upbeat earnings.</li>
<li>Magna International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) jumped 7.8% to $42.54 following third-quarter results.</li>
<li>Cardinal Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>) gained 7.1% to $116.21 after the company reported better-than-expected first-quarter EPS and revenues and raised its FY2025 adjusted EPS guidance.</li>
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Globalstar shares are trading higher after the company amended its services agreement with Apple to launch an extended MSS network with new satellites and infrastructure.

Contracts

Globalstar Amends Services Agreement With Apple To Launch Extended MSS Network With New Satellites And Infrastructure; Apple To Provide $1.1B Infrastructure Prepayment And Purchase 20% Stake For $400M; Agreement Includes Equity Repurchase Provisions, Performance-Based Service Fees, And Revised Debt Repayment Terms

Shares of Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) rose sharply in today's pre-market trading after the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/11/41684534/charter-communications-beats-q3-estimates-on-strong-mobile-growth-expanding-margins">third-quarter EPS and revenues.</a>
Charter Communications reported fiscal third-quarter 2024 revenue growth of 1.6% year-on-year to $13.8 billion, beating the analyst consensus estimate of $13.7 billion. EPS of $8.82 beat the analyst consensus estimate of $8.67
Charter Communications shares rose 11.1% to $364.01 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Globalstar, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>) gained 41.9% to $1.49 in pre-market trading after the company announced a proposed public offering.</li>
<li>Theriva Biologics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOVX#NYSE">TOVX</a>) rose 41.1% to $2.06 in pre-market trading after the company announced it was selected as a finalist for Merck KGaA&#8217;s EMEA Advance Biotech Grant.</li>
<li>Athira Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATHA#NASDAQ">ATHA</a>) shares surged 31.1% to $0.5610 in pre-market trading.</li>
<li>VS MEDIA Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSME#NASDAQ">VSME</a>) climbed 30% to $1.43 in pre-market trading after declining 11% on Thursday.</li>
<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) gained 22.5% to $231.06 in pre-market trading after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates.</li>
<li>Nuburu, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURU#NYSE">BURU</a>) gained 18.6% to $0.5340 in pre-market trading.</li>
<li>Proto Labs, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRLB#NYSE">PRLB</a>) gained 18.3% to $32.43 in pre-market trading after the company reported better-than-expected third-quarter financial results and issued fourth-quarter adjusted EPS guidance with its midpoint above estimates.</li>
<li>comScore, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCOR#NASDAQ">SCOR</a>) shares rose 17.3% to $6.45 in pre-market trading.</li>
<li>Halozyme Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HALO#NASDAQ">HALO</a>) gained 12.8% to $57.04 in pre-market trading after the company reported better-than-expected third-quarter financial results and issued FY24 adjusted EPS guidance above estimates.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>ESSA Pharma Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>) shares dipped 69.2% to $1.60 in pre-market trading. ESSA Pharma terminated Phase 2 study evaluating Masofaniten combined with Enzalutamide in patients with mCRPC.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXRX#NASDAQ">LXRX</a>) fell 37.4% to $1.2207 in pre-market trading.</li>
<li>Elevai Labs Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELAB#NASDAQ">ELAB</a>) fell 35% to $0.0383 in pre-market trading.</li>
<li>MultiMetaVerse Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMV#NASDAQ">MMV</a>) declined 24.1% to $0.3331 in pre-market trading.</li>
<li>Arbe Robotics Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARBE#NASDAQ">ARBE</a>) declined 18.7% to $1.4800 in pre-market trading after the company announced a public offering.</li>
<li>Advent Technologies Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADN#NYSE">ADN</a>) fell 15.8% to $1.9899 in pre-market trading after jumping around 34% on Thursday.</li>
<li>ASP Isotopes Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASPI#NASDAQ">ASPI</a>) fell 8.4% to $6.40 in pre-market trading after the company announced a proposed public offering.</li>
<li>BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>) fell 6.3% to $34.75 in today's pre-market trading after the company announced worse-than-expected third-quarter EPS results.</li>
<li>nVent Electric plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVT#NYSE">NVT</a>) shares fell 6.1% to $70.00 in pre-market trading after the company reported third-quarter results.</li>
<li>DigitalBridge Group, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBRG#NASDAQ">DBRG</a>) declined 6% to $14.75 in pre-market trading after the company reported weaker-than-expected third-quarter results.</li>
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The Defense Department is increasing its projected spending on low Earth orbit (LEO) satellite internet services more than tenfold, responding to surging demand from across the military, SpaceNews has learned.
The military&#39;s Proliferated Low Earth Orbit (PLEO) Satellite-Based Services program, launched just last year with a $900 million ceiling, has been expanded to $13 billion by the Defense Information Systems Agency (DISA) and the Space Systems Command, a spokesperson confirmed.&nbsp;
The dramatic jump in funding underscores how vital high-speed satellite internet has become for military operations, as all branches clamor for the capabilities provided by services like SpaceX&#39;s Starlink. The PLEO contract also is being expanded in anticipation of Amazon&#39;s Project Kuiper entering the LEO internet market in the coming years.
The PLEO program is an Indefinite Delivery Indefinite Quantity (IDIQ) contract managed by DISA and the Space Systems Command&#39;s Commercial Satellite Communications Office. The program so far selected 20 vendors to compete for specific task orders over a five-year base period with an option for an additional five years.&nbsp;
Before this increase, the PLEO contract <a href="https://spacenews.com/space-force-to-increase-spending-on-low-earth-orbit-satellite-services/">had already spent about $660 million </a>of its original $900 million ceiling. Most of the orders have been for Starshield, the militarized version of the Starlink service.

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'DoD Is Raising Its Proliferated Low Earth Orbit Satellite-Based Services Program From An Initial $900M Ceiling To A Projected $13B' - SpaceNews

Globalstar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>), the next-generation mobile satellite and communications services provider, today announced that Band 53 spectrum will be used to enable high-value and mission-critical applications through carrier aggregation with Citizens Broadband Radio Service (CBRS) in the United States.
In a significant move, Globalstar is collaborating with Global Telecom, Alliance, and Hawk Networks, which builds on the Althea platform, to deliver an enhanced, seamless, and reliable connectivity experience to U.S. customers. This collaboration leverages on Globalstar's strong track record with Global Telecom, known for their fast-paced innovation and expertise. Global Telecom created the first carrier aggregation modules to include Band 53 with other bands, such as the CBRS spectrum. Understanding the growing demand for reliable wireless solutions, Globalstar's 10 MHz channel in Band 53 will be used to ensure uninterrupted private wireless network connectivity for CBRS networks even within critical Dynamic Protection Areas (DPAs) or when Priority Access License (PAL) channels are unavailable.

Globalstar's Band 53 Spectrum Will Be Used To Enable High-Value And Mission-Critical Applications Through Carrier Aggregation With Citizens Broadband Radio Service In The U.S. Through A Collaboration With Global Telecom, The Althea Platform, And Alliance

U.S. stocks were higher, with the Nasdaq Composite gaining around 50 points on Wednesday.
Shares of Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) rose sharply during Wednesday's session after the company reported better-than-expected third-quarter financial results and issued FY24 EPS<a href="https://www.benzinga.com/news/earnings/24/08/40474111/toll-brothers-q3-earnings-revenue-beat-eps-beat-homes-delivered-up-11-backlog-down-10-momentum-into"> guidance above estimates.</a>
The company reported adjusted EPS of $3.60, beating analysts estimate of $3.31 and sales of $2.73 billion, beating analysts estimate of $2.71 billion.
Toll Brothers shares climbed 6.5% to $142.27 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>) shares gained 30.1% to $1.7312 after the company received an award as a subcontractor to Concept Solutions.</li>
<li>PROCEPT BioRobotics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRCT#NASDAQ">PRCT</a>) jumped 26% to $81.89 after the company announced FDA 510(k) clearance of its HYDROS Robotic system.</li>
<li>Tempus AI, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) gained 17.6% to $69.09.</li>
<li>GDS Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NASDAQ">GDS</a>) jumped 16.6% to $14.70 after its second-quarter FY24 results.</li>
<li>Eos Energy Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>) climbed 14.4% to $2.1650 after Stifel maintained a Buy rating on the stock and announced a price target of $6.</li>
<li>UTime Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTO#NASDAQ">WTO</a>) gained 14.4% to $1.6478 after the company announced a collaboration with Dr. Ehud Baron.</li>
<li>Kyverna Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KYTX#NASDAQ">KYTX</a>) jumped 13.6% to $8.42.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) gained 13.4% to $24.28 amid a possible rebound due to President Trump&#8217;s first outdoor rally since the attempted assassination and campaign attention during the ongoing Democratic National Convention. Robert F. Kennedy Jr&#8217;s running mate, Nicole Shanahan, mentioned in a podcast yesterday that the third party&#8217;s campaign is weighing options that include joining forces with Donald Trump.</li>
<li>Keysight Technologies, Inc. (NYSE KEYS) rose 12.6% to $156.13 following better-than-expected third-quarter financial results.</li>
<li>Globalstar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>) gained 12.6% to $1.4350.</li>
<li>Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) climbed 12.2% to $160.79 following upbeat quarterly earnings.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) rose 11.8% to $13.87.</li>
<li>Credo Technology Group Holding Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) climbed 10.7% to $35.44.</li>
<li>Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) gained 9.3% to $12.64. CLSA analyst Leo You downgraded Vipshop from Outperform to Hold and lowered the price target from $15.8 to $12.</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) rose 8.3% to $37.17.</li>
<li>Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>) gained 6.4% to $10.14 following fourth-quarter results.</li>
<li>The TJX Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) rose 6% to $120.04 following strong quarterly earnings.</li>
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Liquid Intelligent Technologies (Liquid), a business of Cassava Technologies, a leading technology group, is pleased to announce a strategic partnership with American connectivity innovator Globalstar to deliver advanced 5G connectivity solutions across Africa, the Middle East, and the Gulf.

Global

Globalstar And Liquid Intelligent Technologies Partner To Deliver High-Speed 5G Access Solutions Across Africa, The Middle East, And The Gulf

Globalstar shares are trading higher after the company announced it secured a 15 year FCC license extension to operate up to 26 replacement satellites.

Ensuring Continued Exclusive Operations In The Big LEO Band

Globalstar Secures 15-Year FCC License Extension To Operate Up To 26 Replacement Satellites

Globalstar, Inc&nbsp;(NYSE:&nbsp;GSAT) reported fiscal second-quarter 2024 sales growth of 10% year-on-year to $60.4 million, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40249819/globalstar-announces-second-quarter-2024-financial-results" rel="noreferrer noopener">analyst consensus estimate of $57.2 million</a>.&nbsp; Revenue jumped on increases in service revenue.
The Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) mobile satellite connectivity provider&#8217;s EPS loss for the quarter was $(0.01), compared with the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $0.00</a>. The stock price gained after the results.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39277225/why-is-satellite-communications-globalstar-stock-trading-higher-on-tuesday" rel="noreferrer noopener">Globalstar Shares Surge on Apple iOS 18&#8217;s New Satellite Messaging Feature</a>
Adjusted EBITDA was $32.6 million in the quarter, an increase of 20% year over year primarily due to an increase in high-margin service revenue.
The loss from operations was $(1.4) million versus an income from operations of $2.6 million Y/Y.&nbsp;
Net loss was $(9.7) million in the quarter, compared to a net income of less than $0.1 million a year ago.&nbsp;
GSAT held cash and equivalents of $64.3 million as of June 30, 2024.
&#8220;Globalstar reported record revenue during the second quarter, driven primarily by growth in wholesale capacity services and other recent business initiatives. The high-margin nature of this revenue contributed to a 20% increase in Adjusted EBITDA and an increase in cash on hand to $64 million as of June 30, 2024,&#8221; commented Rebecca Clary, Chief Financial Officer.
FY24 Outlook:&nbsp;Globalstar expects revenue of $235 million–$250 million&nbsp;(prior $225 million–$250 million) against the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $237.5 million</a>.&nbsp;
It expects adjusted EBITDA margin of approximately 53% (<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38713212/globalstar-announces-first-quarter-2024-financial-results-and-operational-updates" rel="noreferrer noopener">prior approximately 50%</a>).&nbsp;
Price Action: GSAT shares are trading higher by 7.34% at $1.17 at the last check Thursday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/06/39277372/why-is-satellite-company-ast-spacemobile-stock-soaring-on-tuesday" target="_blank" rel="noreferrer noopener">AST SpaceMobile Gains with Apple&#8217;s iOS 18 Satellite Messaging, Investors Eye 10.45M Share Resale</a></li>
</ul>

Earnings

Guidance

Tech

Apple's Satellite Connectivity Provider Globalstar's Q2 Revenue Grows 10% On Wholesale Capacity Surge, Hikes FY24 Outlook

Globalstar shares are trading higher after the company reported better-than-expected Q2 sales results and raised its FY24 revenue guidance.

Globalstar Raises FY24 Revenue From $225M-$250M To $235M-$250M Vs $237.530M Est.

Globalstar (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#AMEX">GSAT</a>) reported quarterly losses of $(0.01) per share which met the analyst consensus estimate. The company reported quarterly sales of $60.400 million which beat the analyst consensus estimate of $57.162 million by 5.66 percent. This is a 9.67 percent increase over sales of $55.072 million the same period last year.

Earnings Beats

Globalstar Q2 2024 GAAP EPS $(0.01), Inline, Sales $60.400M Beat $57.162M Estimate

AST SpaceMobile, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) disclosed in filing for the resale of up to 10.45 million shares by selling <a target="_blank" href="https://app.quotemedia.com/data/downloadFiling?webmasterId=102691&amp;ref=318387183&amp;type=HTML&amp;symbol=ASTS&amp;cdn=a0cdc584b4d6438e23946f7c5aa7d844&amp;companyName=AST+SpaceMobile+Inc.&amp;formType=S-3&amp;formDescription=Registration+statement+under+Securities+Act+of+1933&amp;dateFiled=2024-06-11" rel="noreferrer noopener">stockholders</a>.
The satellite designer and manufacturer&nbsp;is also trading higher in sympathy with Apple Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) launch of iOS 18 <a target="_blank" href="https://www.benzinga.com/news/24/06/39256556/apple-unveils-ios-18-with-satellite-messaging-home-screen-customization-privacy-improvements-and-mor" rel="noreferrer noopener">with satellite messaging</a> during its annual developer event.
iPhone 14 and later users can now send messages via satellite, even when cellular connections are unavailable.
They can also send emojis with tapback and enjoy text effects like jitter, shake, and bounce.
In 2024, Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) and AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) <a target="_blank" href="https://www.benzinga.com/news/24/05/39062478/whats-going-on-with-ast-spacemobile-stock-on-wednesday" rel="noreferrer noopener">collaborated with</a> AST SpaceMobile, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) to provide a broadband network directly to cell phones.
Globalstar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>) stock also traded higher on Tuesday. In 2022, Apple tapped Globalstar <a target="_blank" href="https://www.benzinga.com/news/24/05/39062478/whats-going-on-with-ast-spacemobile-stock-on-wednesday" rel="noreferrer noopener">to enable its</a> iPhone 14 and iPhone 14 Pro models to send messages via a satellite outside cellular and Wi-Fi coverage.
AST SpaceMobile stock gained over 53% in the last 12 months. Investors can gain exposure to the stock via iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) and iShares Russell 2000 Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWO#NYSE">IWO</a>).
ASTS Price Action: AST SpaceMobile shares were up 1% at $9.41 at the last check on Tuesday.
Photo via Company

Media

Why Is Satellite Company AST SpaceMobile Stock Soaring On Tuesday?

Globalstar, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>) stock is trading higher Tuesday as Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) showcased iOS 18 <a target="_blank" href="https://www.benzinga.com/news/24/06/39256556/apple-unveils-ios-18-with-satellite-messaging-home-screen-customization-privacy-improvements-and-mor" rel="noreferrer noopener">with satellite messaging</a> during its annual developer event.
Now, iPhone 14 and later users can send messages via satellite, even when cellular connections are unavailable.
The iPhone users can also enjoy text effects like jitter, shake, and bounce.
Other new iOS 18 updates included a more customizable home screen and new privacy features. 
In 2022, Apple tapped Globalstar <a target="_blank" href="https://www.benzinga.com/news/24/05/39062478/whats-going-on-with-ast-spacemobile-stock-on-wednesday" rel="noreferrer noopener">to enable its</a> iPhone 14 and iPhone 14 Pro models to send messages via a satellite outside cellular and Wi-Fi coverage.
Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) and AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) collaborated with AST SpaceMobile, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) to provide a broadband network directly to cell phones.
In May, Globalstar reported quarterly losses of&nbsp;$(0.01)&nbsp;per share, meeting the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38713212/globalstar-announces-first-quarter-2024-financial-results-and-operational-updates" rel="noreferrer noopener">analyst consensus estimate</a>. The company reported quarterly sales of&nbsp;$56.48 million, which beat the analyst consensus estimate of&nbsp;$54.74 million.
Price Action: GSAT shares traded higher by 5.19% at $1.12 at the last check Tuesday.
Photo via Shutterstock

Previews

Why Is Satellite Communications Globalstar Stock Trading Higher On Tuesday?

<a href="https://www.apple.com/apple-events/event-stream/" title="https://www.apple.com/apple-events/event-stream/">https://www.apple.com/apple-events/event-stream/</a>

Apple Introduces Satellite Texting For iMessage And SMS

AST SpaceMobile Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) shares are trading higher after the company announced a partnership with Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) to provide Verizon customers with direct-to-cellular AST SpaceMobile <a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b39059697/ast-spacemobile-and-verizon-announce-plans-to-target-100-percent-geographical-coverage-of-the-cont" rel="noreferrer noopener">service when needed</a>.
The deal involves a commitment of $100 million from Verizon, including $65 million ​of​ commercial prepayments, $45 million of which are subject to earnout, and $35 million of convertible notes.
&#8220;This new partnership with Verizon will enable AST SpaceMobile to target 100% coverage of the continental United States on premium 850 MHz spectrum with two major U.S. mobile operators in the most valuable wireless market in the world, a transformational commercial milestone,&#8221; said Abel Avellan, Founder, Chairman, and CEO of AST SpaceMobile.&nbsp;
AST SpaceMobile has agreements with over 45 mobile network operators globally who collectively serve over 2.8 billion existing subscribers.
<a target="_blank" href="https://www.benzinga.com/news/24/05/38872822/ast-spacemobile-stock-is-soaring-thursday-whats-going-on" rel="noreferrer noopener">Earlier in May</a>, AST SpaceMobile inked a deal with AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) to provide a space-based broadband network directly to cell phones.&nbsp;
Verizon&#8217;s partnering with a satellite communication provider is not new to the industry. Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a target="_blank" href="https://www.benzinga.com/news/22/11/29660999/apple-earmarks-450m-for-iphone-14s-satellite-emergency-sos" rel="noreferrer noopener">made big news</a> when it partnered with Globalstar, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>), a global satellite service.
Apple earmarked $450 million of its Advanced Manufacturing Fund to support the critical infrastructure powering Emergency SOS via satellite for <a target="_blank" href="https://www.benzinga.com/pressreleases/22/11/w29658257/emergency-sos-via-satellite-on-iphone-14-and-iphone-14-pro-lineups-made-possible-by-450-million-ap" rel="noreferrer noopener">safety capability for the iPhone 14 lineup</a>.&nbsp;
Available to customers in the U.S. and Canada shortly, the new service will allow iPhone 14 and iPhone 14 Pro models to connect directly to a satellite, enabling messaging with emergency services when outside of cellular and Wi-Fi coverage.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/23/11/35565088/apple-partner-globalstar-stock-is-falling-after-q3-performance-whats-going-on" rel="noreferrer noopener">Apple Partner Globalstar Stock Is Falling After Q3 Performance &#8211; What&#8217;s Going On?</a>
Also, AST SpaceMobile reported fiscal first-quarter sales of $0.5 million, which missed analyst consensus of $5.5 million.
The company reported an adjusted EPS loss of $(0.16), which beat the consensus loss of $(0.21).
AST SpaceMobile stock lost over 2% in the last 12 months. Investors can gain exposure to the stock via Procure Space ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>) and SPDR S&amp;P Telecom ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XTL#NYSE">XTL</a>).
Price Action: ASTS shares were up 19.50% at $6.38 premarket at the last check on Wednesday.

What's Going On With AST SpaceMobile Stock On Wednesday?

<h3>Gainers</h3>
<ul>
<li>Pop Culture Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPOP#NASDAQ">CPOP</a>) shares increased by 8.4% to $1.54 during Tuesday's after-market session. The company's market cap stands at $5.1 million. </li>
<li>Vivid Seats (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEAT#NASDAQ">SEAT</a>) shares increased by 7.61% to $5.23. The market value of their outstanding shares is at $687.3 million. </li>
<li>So-Young Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SY#NASDAQ">SY</a>) shares rose 4.93% to $1.04. The market value of their outstanding shares is at $106.0 million. As per the press release, Q1 earnings came out today. </li>
<li>Cinemark Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNK#NYSE">CNK</a>) stock moved upwards by 4.67% to $17.89. The company's market cap stands at $2.1 billion. </li>
<li>Loop Media (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/LPTV#AMEX">LPTV</a>) stock increased by 4.16% to $0.25. The company's market cap stands at $17.7 million. </li>
<li>Globalstar (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#AMEX">GSAT</a>) shares moved upwards by 3.59% to $1.13. The market value of their outstanding shares is at $2.1 billion. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Onfolio Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONFO#NASDAQ">ONFO</a>) shares declined by 7.5% to $1.23 during Tuesday's after-market session. The market value of their outstanding shares is at $6.2 million. </li>
<li>Oriental Culture Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCG#NASDAQ">OCG</a>) stock decreased by 6.43% to $1.02. The company's market cap stands at $4.6 million. </li>
<li>Bandwidth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BAND#NASDAQ">BAND</a>) shares decreased by 5.66% to $19.69. The company's market cap stands at $531.7 million. </li>
<li>IAC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAC#NASDAQ">IAC</a>) shares fell 3.5% to $48.0. The company's market cap stands at $4.1 billion. </li>
<li>Brera Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BREA#NASDAQ">BREA</a>) shares declined by 3.01% to $0.97. The market value of their outstanding shares is at $12.8 million. </li>
<li>Cineverse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNVS#NASDAQ">CNVS</a>) stock declined by 2.99% to $0.97. The market value of their outstanding shares is at $12.9 million. 
See Also: <a href="http://www.benzinga.com/money/best-communication-services-stocks/" title="www.benzinga.com/money/best-communication-services-stocks/">www.benzinga.com/money/best-communication-services-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BAND

BREA

CNVS

CPOP

LPTV

ONFO

SEAT

12 Communication Services Stocks Moving In Tuesday's After-Market Session

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MRVL

PINS

RDDT

SOXS

Press Releases

Globalstar, Inc. Earnings Release and Call Notice

Globalstar Announces First Quarter 2024 Financial Results and Operational Updates

Globalstar Announces Second Quarter 2024 Financial Results

FCC Reauthorizes Globalstar's HIBLEO-4 Constellation

Liquid Intelligent Technologies and Globalstar Partner to Deliver High-speed 5G Access Solutions Across Africa, the Middle East, and the Gulf

BestGrowthStocks.Com Issues Comprehensive Analysis of Globalstar Inc's Strategic Partnerships and Growth Drivers

Globalstar Announces Participation at MWC Las Vegas 2024

Globalstar's Band 53 Spectrum to Be Used for Mission-Critical Applications in Combination With CBRS Through a Collaboration With Global Telecom, the Althea Platform, and Alliance

AST SpaceMobile, Inc. - Class A Common Stock

AST SpaceMobile

Anterix

Bandwidth

Cogent Communications Holdings, Inc. - Common Stock

Cogent Comms Hldgs

Iridium Communications Inc - Common Stock

Iridium Comms

Liberty Global Ltd. - Class A Common Shares

Liberty Global

Liberty Global Ltd. - Class B Common Shares

Liberty Global Ltd. - Class C Common Shares

Liberty Latin America Ltd. - Class A Common Stock

Liberty Latin America

Liberty Latin America Ltd. - Class C Common Stock

Lumen Technologies

NextPlat

Sify Technologies Limited - American Depository Shares, each represented by one Equity Share

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