Telesat reports Q3 revenue down 5%

OTTAWA – Telesat today announced its financial results for the third quarter of 2021, which shows consolidated revenue decreased by 5% to $192 million compared to Q3 2020. “When adjusted for changes in foreign exchange rates, revenue declines 2% ($4 million) compared to 2020,” a press release says. “The revenue decrease was primarily due to a slight reduction of service for one of Telesat’s North American DTH customers, the reduction or non-renewal of certain services in the enterprise segment, including as a result of the Covid-19 pandemic, and lower consulting revenue, partially offset by an increase in revenue associated with...