Telesat Q2 revenue down 10%; expects to go public before years end

OTTAWA – Telesat today reported the financial results for its second quarter and the first six months of 2021 ended June 30, which show consolidated revenue was down 10% to $188 million in Q2 compared to the same quarter in 2020. “Revenue decreases were primarily due to a slight reduction of service for one of Telesat’s North American DTH customers, non-renewals of certain enterprise contracts, and lower consulting revenue,” according to a press release. Adjusted EBITDA for Q2 “was $149 million, a decrease of 10%,” the press release reads. Adjusted EBITDA for the first six months of 2021 was $301...