07:47 AM EDT, 05/06/2025 (MT Newswires) -- Telesat ( TSAT ) , up 4.6% in U.S. pre-market trading, on Tuesday reported a slightly narrower net loss that beat estimates.

The satellite operator said its net loss improved to $51.5 million, or $1.08 per share, from $52.3 million, or $1.08 per share, beating the consensus analyst forecast of a loss of $1.42 per share, according to Capital IQ.

Quarterly revenue fell 23% to $117 million. The decrease was primarily due to a lower rate on the renewal of a long-term agreement with a North American direct-to-home television customer and to reductions in services for certain other customers. The result was still higher than the $109.9 million forecast.

Telesat ( TSAT ) expect 2025 full year revenue to be between $405 million and $425 million.

The company's shares were last seen up US$0.73, to US$16.74, in New York trading.