AST SpaceMobile Stock Drops After Q1 Report — Here’s Why

AST SpaceMobile Inc. (NASDAQ:ASTS) posted its first-quarter results after Monday’s closing bell, missing both earnings and revenue estimates for the quarter.

Here’s a look at the details inside the report. 

• ASTS stock is moving. Watch the price action here.

AST SpaceMobile Q1 Details       

AST SpaceMobile reported quarterly losses of 66 cents per share, which missed the consensus estimate for losses of 23 cents per share.

Quarterly revenue of $14.74 million fell short of the $37.63 million Street estimate, according to Benzinga Pro data. 

The company said revenue was driven by gateway deliveries and U.S. government milestones met, …

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