AST SpaceMobile Shares Surge 14% Following Rakuten Joint Venture Announcement
AST SpaceMobile (ASTS) shares rose 14.11% on November 9, 2026, following the announcement of a joint venture with Japanese carrier Rakuten. The new entity, Rakuten AST, will utilize AST's satellite technology to provide cellular coverage in underserved areas and disaster zones across Japan. The venture is expected to receive up to $1 billion in funding from the Japanese government. Despite the stock surge, AST SpaceMobile reported third-quarter revenue of $42.3 million, which nearly tripled year-over-year but missed Wall Street expectations. The company reported a loss of $0.44 per share. However, management maintained its full-year revenue guidance of $150 million to $200 million and expects to begin offering intermittent satellite coverage in the U.S. and other markets by the end of the year.
Topics: Earnings Report Joint Venture Satellite Communications Telecommunications
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