01:27 PM EDT, 08/08/2024 (MT Newswires) -- (Updates with the stock price movement in the headline and the first paragraph.)

Viasat ( VSAT ) shares jumped nearly 40% in recent Thursday trading, a day after the company reported its fiscal Q1 results that surpassed market expectations.

The company reported fiscal Q1 adjusted earnings late Wednesday of $0.30 per diluted share, compared with breakeven earnings a year earlier.

Three analysts polled by Capital IQ expected earnings of $0.06 per share.

Revenue for the quarter ended June 30 was $1.13 billion, up from $779.8 million a year earlier.

Analysts polled by Capital IQ expected $1.07 billion.

The company said it expects revenue growth for fiscal 2025 to be up mid-single digits.

Price: 24.82, Change: +7.05, Percent Change: +39.67