Gilat (GILT) has released an update.
Gilat Satellite Networks Ltd. reported a strong financial performance for the third quarter of 2024, with a 17% year-over-year increase in revenues to $74.6 million. Despite a decrease in GAAP operating income compared to the previous year, the company showed significant growth in non-GAAP operating income and adjusted EBITDA, highlighting its strategic expansion in defense and in-flight connectivity markets. The company’s ongoing acquisition of Stellar Blu Solutions is expected to contribute substantial revenue and enhance its market position.
For further insights into GILT stock, check out TipRanks’ Stock Analysis page.
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