Intelsat has reported a third-quarter loss of $374.6 million.
Chief Executive Officer, Stephen Spengler, described the results as stable and said the operator had made important progress on its operational and financial goals.
Intelsat recently launched Horizons 3e, its joint venture satellite with Japan’s leading satellite operator, SKY Perfect JSAT Corporation. It completes the initial buildout of the Intelsat EpicNG global high-throughput network, providing service coverage in the Asia-Pacific region.
Alongside it on the September 25th launch Intelsat 38, a satellite jointly built with Azerbaijan’s commercial satellite operator, Azercosmos, will provide media and broadband services in Central and Eastern Europe, Africa, and Asia.
Both satellites are expected to enter service in the first quarter of 2019.
Media revenue was $233.1 million, a decrease of 2% compared to the same period in 2017.
The company reaffirmed its full-year 2018 revenues that it estimates to be within a range of $2.060 billion to $2.110 billion.
