Satellite operator Intelsat reported a net loss of US$94.3m (105m) for the third quarter.
Revenue for the three months ended September 30 increased by US$19.4m year-on-year to $617.9m. Intelsat said new business, strong renewals, expansion of existing contracts and improved contract terms contributed to the overall increase in revenue. Revenue from the companyÂs channel business was down US$3.1m due to continued declines from the migration of point-to-point satellite traffic to fiber optic cables across transoceanic routes and the optimisation of customer networks, a trend that Intelsat expects to continue. Revenue from transponder services increased by US$25.7m.