(Reuters) -French satellite operator Eutelsat reported worse-than-expected first quarter revenues on Tuesday as a decline in sales at its video business offset strong demand for government services, notably in Ukraine.<\/p>\n
\n Revenue from video, connectivity and government services fell 1.2% year-on-year on a comparable basis to 283 million euros ($330 million) in the quarter to end Sept. That was below the average 295 million euros forecast by analysts, according to data from the company.<\/p>\n
\n The video business, which provides satellite broadcasting services to over a billion viewers globally and accounts for around half of Eutelsat’s total revenue, recorded a 10.5% fall in revenue on a comparable basis year-on-year.<\/p>\n
\n That reflected both a long-term decline in the video market and a negative impact from sanctions imposed on Russian channels, the group said in statement. <\/p>\n
\n Sanctions are expected to have an impact of around 16 million euros this year, the company said.<\/p>\n
\n Eutelsat owns and operates a constellation of over 600 Low Earth Orbit (LEO) satellites providing broadband internet via its London-based subsidiary OneWeb.\u00a0<\/p>\n
\n These satellites, currently the only other LEO constellation available besides Elon Musk’s Starlink, have gained momentum as European governments seek home-grown alternatives for satellite services.<\/p>\n
\n But the firm is still grappling with sluggish sales growth, weighed down by its declining legacy video business.\u00a0<\/p>\n
\n Government services was the fastest-growing segment again this quarter, with revenues rising 18.5% from a year ago to 52.4 million euros, in line with estimates.<\/p>\n
\n Eutelsat confirmed its annual and long-term financial targets.<\/p>\n
\n ($1 = 0.8575 euros)<\/p>\n
(Reporting by Gianluca Lo Nostro and Alban Kacher; Editing by Matt Scuffham)<\/p>\n","protected":false},"excerpt":{"rendered":"(Reuters) -French satellite operator Eutelsat reported worse-than-expected first quarter revenues on Tuesday as a decline in sales at…\n","protected":false},"author":2,"featured_media":136468,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[270],"tags":[18,19,17,188,133,451],"class_list":{"0":"post-136467","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-space","8":"tag-eire","9":"tag-ie","10":"tag-ireland","11":"tag-markets","12":"tag-science","13":"tag-space"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/136467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=136467"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/136467\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/136468"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=136467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=136467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=136467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}