Why Globalstar Stock Dropped 8% Today

Shares of Globalstar (NYSEMKT: GSAT) stock dropped 8.1% through 1:35 p.m. EDT Friday, after the mobile satellite services provider released its fiscal Q1 2021 earnings report yesterday -- meeting on earnings but missing on revenue.

Heading into fiscal Q1 2021, analysts had predicted Globalstar would lose $0.02 per share -- and it did that. But analysts had thought the company would be able to do at least $32.2 million in revenue for the quarter, and that's where it fell short, reporting revenue of only $26.9 million.  

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Source Fool.com