Rebounding In-Flight Connectivity Helped Viasat Q1

Rebounding in-flight connectivity helped Viasat grow, though the company is "still well below pre-pandemic business levels," CEO Rick Baldridge told analysts Thursday on results for fiscal Q1 ended June 30. Satellite services revenue was $274 million, up 36% year over year, with commercial air activity picking up, it said. It expects revenue growth for the rest of the fiscal year due in part to passenger traffic trends. Overall revenue was $665 million, up $135 million. The stock closed 8.5% higher at $52.16.