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Globalstar posts lower revenues and EBITDA in Q2, makes progress on debt refinancing

Monday 12 August 2019 | 08:47 CET | News
Globalstar reported a further slowdown in revenue growth, with its two main business segments moving into negative territory in the second quarter. Overall revenues declined to USD 31.2 million, down 8 percent year-on-year (+5% in Q1 and +9% in Q4 2018). Service revenues dropped 5 percent to USD 26.7 million, while subscriber equipment sales contracted by 22 percent to USD 4.5 million. Adjusted EBITDA fell to USD 8.8 million from USD 11.2 million in the year-earlier period, mainly impacted by the lower revenues.

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Categories: Broadcast & Satellite
Companies: Globalstar
Countries: World
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