Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Intelsat cuts 2017 forecast as Epic services sales go slowly

Published 06/16/2017, 01:14 PM
© Reuters.  Intelsat cuts 2017 forecast as Epic services sales go slowly
INTEQ
-
  • Intelsat (NYSE:I) says commercialization of its Epic services is pacing a little slowly, leading the company to cut its forecast for the year.
  • It's trimmed revenue expectations to $2.15B-$2.18B from a previous forecast of $2.18B-$2.225B. It now expects EBITDA of $1.64B-$1.67B vs. consensus of $1.65B (and down from a previous expectations for $1.655B-$1.7B).
  • Launches of the Epic satellites are on track, but the company says it's seeing a longer sales process involved in getting the new services sold. Pricing trends are still stable, however.
  • Shares have reversed early losses and are now up 1.6%.
  • Previously: Intelsat signs Gogo for service on first Epic satellite (Nov. 17 2016)
  • Previously: Malfunction delays service for Intelsat high-throughput satellite (Sep. 09 2016)
  • Now read: Daily Pain - Energy Stocks Surge From The Grave At The Expense Of FAANG


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.