Telesat Corp (TSE:TSAT) has released an update.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Telesat Corp reported a 15% decline in Q2 2024 revenue compared to the previous year, citing reduced services and lower rates on key customer renewals as primary factors. Despite the downturn, the company maintains a healthy $1.4 billion cash balance with a $1.1 billion contractual backlog and continues to invest in their Telesat Lightspeed LEO satellite network, aiming to revolutionize global broadband connectivity. The report indicates a strong focus on managing costs and maximizing EBITDA, even as net income fell significantly due to the absence of prior year’s C-band clearing income and foreign exchange losses.
For further insights into TSE:TSAT stock, check out TipRanks’ Stock Analysis page.
