Intelsat Reports Stable Q3 Results, but Dip in Intelsat SA
Intelsat revealed its latest set of results today, which saw revenues stabilize, but its net losses saw a fairly dramatic increase. This was one of the highlights of its third quarter results, which were issued today. Its revenues for the three months to the end of September was $536.9 million, a slight decrease compared to the same stage last year. However, net losses reached close to $375 million, which was a huge increase compared to the same stage last year.
In terms of interesting takeaways from its results, its network services revenues reached $199 million, 37 percent of total revenue, but a six percent drop compared to last year. However, Intelsat’s government revenues saw a 16 percent jump in the three months to the end of September and reached just over $98 million. It now accounts for 18 percent of total revenues.
“During the third quarter, Intelsat made important progress on its operational and financial goals” Intelsat’s Chief Executive Officer (CEO)Stephen Spengler said. “Our stable financial results reflect a continuation of recent trends. Operationally, a major milestone was the successful launch of Horizons 3e, completing the global footprint of our high-throughput satellite fleet. The Intelsat Epic fleet powers new services in wireless network extensions, in-flight passenger broadband connectivity, broadband services for maritime fleets and high definition video from small aeronautical surveillance platforms. In the past weeks, we introduced the Intelsat FlexExec managed service for the business jet segment, complementing our previously announced government and maritime managed service platforms that leverage the Intelsat Epic network.