Telesat Corporation (TSAT) has announced a new contract and updated its financial outlook following strong revenue growth in recent quarters.
According to a company press release, Telesat Corporation CEO Dan Goldberg announced the new contract with an undisclosed major telecommunications company. The financial terms of the deal were not disclosed.
Analysts at Credit Suisse expect the new contract to drive strong revenue growth for the company in the coming quarters, with some foreseeing an additional 13% year-over-year revenue increase. The company has updated its full-year financial outlook and now expects revenue of $3 billion to $3.3 billion, up from $2.3 billion to $2.8 billion previously.