Telesat Corporation (TSE:TSAT) has released an update.
Telesat Corporation, a leading satellite operator, has announced a 17% decline in quarterly revenue to $152 million and a net loss of $52 million, compared to a net income in the previous year. Despite the downturn, the company maintains a robust contractual backlog and high capacity utilization, and is pushing forward with its Telesat Lightspeed project, having secured a $2.14 billion loan from the Canadian government. The company remains committed to its 2024 financial outlook, with projected revenues and Adjusted EBITDA within their expected ranges.
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