The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). Let’s take a look at how telecommunication services stocks fared in Q2, starting with Lumen (NYSE: LUMN).
The sector is a tale of two cities. Satellite telecommunication is generally buoyed by rising global demand for connectivity in costly-to-connect and remote areas. On the other hand, terrestrial telecommunication companies face an uphill battle, as they mostly sell into a deflationary market, where the price of moving a bit tends to decrease over time with better technology. Despite the differences in demand drivers, companies across the entire industry must contend competition from larger telecom conglomerates and hyperscalers expanding their own networks as well as newer entrants such as SpaceX's StarLink.
The 6 telecommunication services stocks we track reported a mixed Q2. As a group, revenues missed analysts’ consensus estimates by 1.7%.
While some telecommunication services stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2.2% since the latest earnings results.
Lumen (NYSE: LUMN)
With approximately 350,000 route miles of fiber optic cable spanning North America and the Asia Pacific, Lumen Technologies (NYSE: LUMN) operates a vast fiber optic network that provides communications, cloud connectivity, security, and IT solutions to businesses and consumers.
Lumen reported revenues of $2.81 billion, down 9.3% year on year. This print exceeded analysts’ expectations by 2.4%. Overall, it was an exceptional quarter for the company with a beat of analysts’ EPS estimates.
Lumen delivered the slowest revenue growth among its peers. The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $6.73.
Is now the time to buy Lumen? Access our full analysis of the earnings results here, it’s free.
Best Q2: Array (NYSE: AD)
Operating as a majority-owned subsidiary of Telephone and Data Systems since its founding in 1983, Array (NYSE: AD) is a regional wireless telecommunications provider serving 4.6 million customers across 21 states with mobile phone, internet, and IoT services.
Array reported revenues of $54.07 million, up 89.5% year on year, outperforming analysts’ expectations by 3.3%. The business had a stunning quarter with a beat of analysts’ EPS estimates.
Array pulled off the biggest analyst estimate beat and fastest revenue growth in the group. However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $35.96.
Is now the time to buy Array? Access our full analysis of the earnings results here, it’s free.
Weakest Q2: Globalstar (NASDAQ: GSAT)
Known for powering the emergency SOS feature in newer Apple iPhones, Globalstar (NASDAQ: GSAT) operates a network of low-earth orbit satellites that provide voice and data communications services in remote areas where traditional cellular networks don't reach.
Globalstar reported revenues of $64.77 million, down 3.5% year on year, falling short of analysts’ expectations by 11.2%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS estimates.
Globalstar delivered the weakest performance against analyst estimates of the whole group. As expected, the stock is down 2.3% since the results and currently trades at $81.52.
Read our full analysis of Globalstar’s results here.
Iridium (NASDAQ: IRDM)
With a constellation of 66 low-earth orbit satellites providing coverage to every inch of the planet, Iridium Communications (NASDAQ: IRDM) operates a global satellite network that provides voice and data services to customers in remote areas where traditional telecommunications are unavailable.
Iridium reported revenues of $225.2 million, up 3.8% year on year. This number beat analysts’ expectations by 1.5%. More broadly, it was a softer quarter as it logged a significant miss of analysts’ EPS estimates.
The stock is up 5.8% since reporting and currently trades at $49.97.
Read our full, actionable report on Iridium here, it’s free.
Viasat (NASDAQ: VSAT)
Operating a fleet of 23 satellites that orbit the Earth and beam connectivity from space, Viasat (NASDAQ: VSAT) provides satellite-based communications networks and services for airlines, maritime vessels, governments, businesses, and residential customers worldwide.
Viasat reported revenues of $1.16 billion, down 1.2% year on year. This print missed analysts’ expectations by 4.4%. Zooming out, it was actually a satisfactory quarter as it produced a beat of analysts’ EPS estimates.
The stock is down 3.7% since reporting and currently trades at $83.
Read our full, actionable report on Viasat here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
