Summary by Moomoo AI
Globalstar, a provider of Mobile Satellite Services (MSS), reported a significant turnaround in its financial performance for the third quarter ended September 30, 2024. The company posted a net income of $9.934 million, a stark contrast to the net loss of $6.169 million in the same quarter of the previous year. The adjusted net income attributable to common shareholders was $7.261 million for the quarter, compared to a loss of $8.842 million in the prior year. Basic and diluted net income per common share both stood at $0.00, maintaining the same level as the previous year despite the shift from loss to profit. The company's weighted average shares outstanding - diluted increased to 1,910,061 from 1,836,251 year-over-year. In business development, Globalstar announced amendments to the Service Agreements...Show More
