Globalstar Inc reports results for the quarter ended June 30 - Earnings Summary

• Globalstar Inc GSAT.OQ reported quarterly adjusted earnings of 13 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -15 cents. The mean expectation of two analysts for the quarter was for a loss of 5 cents per share. Wall Street expected results to range from -9 cents to -1 cents per share.

• Revenue rose 11.2% to $67.15 million from a year ago; analysts expected $63.14 million.

• Globalstar Inc's reported EPS for the quarter was 13 cents​.

• The company reported quarterly net income of $16.56 million.

• Globalstar Inc shares had risen by 6.9% this quarter and lost 18.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 42.9% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the wireless telecommunications services peer group is also "buy"

• Wall Street's median 12-month price target for Globalstar Inc is $52.50, about 52% above its last closing price of $25.18

This summary was machine generated from LSEG data August 8 at 05:39 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)