AST SpaceMobile (NASDAQ: ASTS) has its most important satellite launch ever coming next month. Today the company provided a business update and second-quarter results ahead of that milestone launch. Investors liked what they heard.

AST shares soared after the earnings release. As of 11:55 a.m. ET, the stock was higher by 40.3%. That added to the gain of more than 1,000% the stock has realized over the past three months as investors bet the big launch will be a success.

AST's rocketed higher in recent months after the company confirmed its first commercial launch is on target for deployment in the first half of September. Its five commercial BlueBird satellites are now in Cape Canaveral awaiting the upcoming launch window.

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Source Fool.com