These Analysts Revise Their Forecasts On AST SpaceMobile After Q2 Results - AST SpaceMobile (NASDAQ:ASTS)

AST SpaceMobile Inc. (NASDAQ:ASTS) on Monday reported downbeat second-quarter results.

AST SpaceMobile reported an adjusted loss of 35 cents per share, missing the consensus estimate of a 28-cent loss. In addition, the company reported revenue of $31.52 million, missing the consensus estimate of $34.977 million.

"AST SpaceMobile’s differentiated technology platform and deep intellectual property portfolio, partner-first mobile network operator strategy, vertically integrated manufacturing capabilities, and comprehensive spectrum strategy are foundational to the space-based cellular broadband market we invented," said Abel Avellan, AST SpaceMobile’s Chairman and CEO.

AST SpaceMobile reaffirmed its fiscal-year revenue outlook of between $150 million and $200 million, versus the $168.88 million consensus estimate.

AST SpaceMobile shares gained 1.8% to $69.96 in pre-market trading.