Telesat reports Q2 revenue declined 1%

Company is currently looking for more financing for Telesat Lightspeed OTTAWA – Telesat announced its second quarter 2022 financial results today, reporting consolidated revenue of $187 million, representing a decrease of 1% ($1 million) compared to the same quarter of 2021. “When adjusted for changes in foreign exchange rates, revenue declined 3% ($6 million) compared to 2021,” a press release says. The decrease is attributed primarily to “a reduction on renewal of a long-term agreement with a North American direct-to-home customer, partially offset by an early termination payment received from a customer in Latin America and an increase in services...