Why Is AST SpaceMobile Stock Plummeting After Earnings?
AST SpaceMobile (NASDAQ: ASTS) has announced agreements to secure orbital launch capacity for a global, space-based cellular broadband network accessible directly from standard smartphones. Targeting high-demand markets like the U.S., Europe, Japan, and government applications, the launch campaign will begin in 2025-2026 from Cape Canaveral, using Blue Origin's New Glenn rocket and other vehicles to deploy up to 60 next-gen Block 2 BlueBird satellites.
AST SpaceMobile's share price dropped after the release of its Q3 results, although there was little reason for this from a fundamental perspective. AST is reaching a point where it can demonstrate the viability of its business, but meaningful revenue probably remains 1-2 years away. This likely means that ASTS stock will remain at the mercy of small shifts in investor sentiment in the short term.
AST SpaceMobile plans to use Blue Origin's New Glenn rocket to launch some of the satellites for its space-based cellular broadband network in 2025 and 2026.
AST SpaceMobile, Inc. (NASDAQ:ASTS ) Q3 2024 Earnings Conference Call November 14, 2024 5:00 PM ET Company Participants Scott Wisniewski - President and Chief Strategy Officer Abel Avellan - Founder, Chairman and Chief Executive Officer Andrew Johnson - Chief Financial Officer and Chief Legal Officer Conference Call Participants Mike Crawford - B. Riley Securities Christopher Schoell - UBS Chris Quilty - Quilty Analytics Bryan Kraft - Deutsche Bank Caleb Henry - Quilty Analytics Operator Good day and thank you for standing by.
AST SpaceMobile, Inc. (ASTS) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of a loss of $0.18 per share. This compares to loss of $0.23 per share a year ago.
Shares of AST SpaceMobile Inc. fell in extended trading Thursday after the space-based broadband company's third-quarter loss widened.
Here is how AST SpaceMobile, Inc. (ASTS) and Innodata Inc. (INOD) have performed compared to their sector so far this year.
Superior solutions and a deep-seated, irrefutable long-term need make these three names overlooked winners.
ASTS appears to be treading in the middle of the road, and new investors could be better off if they trade with caution.
It's almost time for space exploration names to have their turn in the earnings confessional.
Rocket Lab USA, Intuitive Machines, and AST SpaceMobile could all soar higher.