Subscriber growth stagnant. We knew that.
Revenue from existing subs grew 14%. (Looks like they need more people now to upgrade or buy more expensive plans....hmmm).
Pushing community wifi south of the border to 1 million plus.
And they made $100 million or so third quarter.
The commercial air business is going “gangbusters” for Viasat, Girvan added. Another business enjoying rapid growth is the company’s community Wi-Fi service, which supports up to 100 users on a single hotspot in small communities.
“We’ve been adding 600 sites a month in Mexico for community Wi-Fi,” he said. “We see that as a key service we can bring to Asia for places like Indonesia, the Philippines, India.”
Full transcript of call available for those who prefer the written word is at:
Previously it was necessary to turn off java script to view the full transcript at SeekingAlpha if not wanting to subscribe; however appears that's no longer the case.
As much as many would like it to not be the case, Viasat isn't going anywhere.
Strong business for wifi in the sky.
Stagnant growth in the residential internet sector other than getting more money out of existing subs. That trend of course is not sustainable. You can only get so much blood out of a turnip. This should tell you where we rate as customers and won't be a major focus going forward.