Shares of AST SpaceMobile Inc. (NASDAQ:ASTS) are trading slightly higher Wednesday morning following the company’s second-quarter earnings release on Monday.
AST SpaceMobile shares are advancing steadily. Why is ASTS stock trading higher?
AST SpaceMobile Q2 Results: Revenue Surges Year-Over-Year Despite Missing Estimates
The space-based cellular broadband company reported second-quarter revenue of $31.52 million, up significantly from $1.16 million in the prior-year period but missing analyst estimates of $34.98 million. AST SpaceMobile posted an adjusted loss of 35 cents per share, wider than consensus expectations of a 28 cent loss per share.
Despite missing quarterly consensus targets, the company affirmed its full-year 2026 sales guidance of $150.0 million to $200.0 million, compared to Wall Street estimates of $168.88 million. Revenue backlog reached approximately $1.30 billion in contracted commercial revenue and government awards.
