Telesat Swings to Q2 Loss; Revenue Falls

MT Newswires Live

08/13

Telesat (TSAT) reported Q2 net losses Thursday of 10.89 Canadian dollars ($7.81) per diluted share, swinging from earnings of CA$1.38 a year earlier.

A single analyst polled by FactSet expected losses of CA$1.17.

Revenue for the quarter ended June 30 was CA$79.5 million, down from CA$106.1 million a year earlier.

Analysts expected CA$79.7 million.

Shares of the company were up 2.7% in recent premarket trading.

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