Intelsat reports steady Q3 earnings | Satellite | News | Rapid TV News
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Satellite provider Intelsat reported third-quarter revenue of $536.9 million, narrowly missing the consensus estimate of $539 million.

intelsat 31 oct 2018Total adjusted EBITDA was $390 million, or 76% of revenue, for the three months ended 30 Sept. The company reported a net loss of $374.6 million.

“During the third quarter, Intelsat made important progress on its operational and financial goals,” said Intelsat CEO Stephen Spengler. “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.”

He added, “Further, since July 1 we completed $4.2 billion in capital markets transactions, achieving an improved maturity profile for our capital structure. This, combined with our operational progress, allows us to advance our business goals.”

He also gave an update to Intelsat's efforts to participate in clearing 200 MHz of spectrum in the US over the course of the next 18 to 36 months, to be used for 5G deployment.

“The comment phase of the US Federal Communications Commission C-band proceeding ended yesterday, a major milestone as we continue to advance our proposal,” Spengler said. “The formation of the C-Band Alliance, announced earlier this month, demonstrates that the continental US C-band satellite operators are in full agreement on the technical and operational steps necessary to clear [the spectrum]. We will continue to advocate for our breakthrough, market-based approach that is the best path to protecting incumbents while repurposing spectrum.”