How did GSAT's Q3 2024 earnings surprise impact its stock?

Globalstar (GSAT) experienced a significant earnings decline in Q3 2024, with a net income of -$50.22 million and a staggering 605.53% quarter-over-quarter growth decline. The EPS surprise for the period was $0, indicating that the earnings results were in line with market expectations. |code|Ticker|Name|Date|Estimate EPS YoY|Estimate Revenue YoY|market_code| |---|---|---|---|---|---|---| |GSAT|GSAT.O|Globalstar|20231231|100|36.438709677419354|185| |GSAT|GSAT.O|Globalstar|20240331||10.135545215456201|185| |GSAT|GSAT.O|Globalstar|20240630|100|10.75789881760031|185| |GSAT|GSAT.O|Globalstar|20240930||12.281354670636398|185| Given that the EPS surprise was $0, we can infer that the market had already accounted for the earnings figures in the stock price. Therefore, the impact of the earnings surprise on the stock price was minimal. The stock's price increased by 1.35% to $19.56, suggesting that factors other than earnings may have influenced the stock's performance. In conclusion, while the earnings decline was substantial, the fact that the earnings surprise was $0 and the stock price increased slightly indicates that the impact of the earnings surprise on the stock was relatively muted. Other factors, such as market sentiment or company-specific news, likely played a more significant role in determining the stock's performance during that period.