Telesat: Q2 Earnings Snapshot

OTTAWA, Ontario (AP) — OTTAWA, Ontario (AP) — Telesat Corporation (TSAT) on Thursday reported a loss of $119.8 million in its second quarter.

The Ottawa, Ontario-based company said it had a loss of $7.87 per share. Earnings, adjusted for non-recurring costs, were $9.83 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 67 cents per share.

The satellite communications company posted revenue of $57.4 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $57.2 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSAT at https://www.zacks.com/ap/TSAT