Telesat revenue declined 8% in 2021

OTTAWA – Telesat today announced financial results for its full year and for the quarter ended Dec. 31, 2021, which shows consolidated revenue declined 8% and 7% respectively. For the full year 2021, consolidated revenue decreased to $758 million, compared to the previous year. “When adjusted for changes in foreign exchange rates, revenue declined 4% ($32 million) compared to 2020,” a press release explains. “The revenue decrease was primarily due to a reduction of service for one of Telesat’s North American direct-to-home customers, the reduction or non-renewal of certain services in the enterprise segment, including as a result of the...