October 30, 2019 / 5:31 PM / 3 months ago

CORRECTED-Eutelsat reports Q1 revenue miss, tweaks FY outlook

(Corrects headline and third paragraph to show Eutelsat confirmed revenue guidance range, did not cut outlook)

Oct 30 (Reuters) - French satellite operator Eutelsat Communications reported a bigger than expected 6% like-for-like drop in quarterly revenue on Wednesday, citing worsening trends in the data and professional video division and the unplanned return of a couple of transponders in Russia.

The French company posted fiscal first quarter revenue of 317.6 million euros ($353.1 million), below consensus for 329 million among analysts polled by the company.

Eutelsat stuck with its full-year revenue guidance for the operating verticals division, which accounts for the bulk of its revenues, but said it now saw increased likelihood it will land in the lower half of its forecast range of 1.28 billion to 1.32 billion euros.

The company confirmed all other financial objectives for the year.

Eutelsat, which competes with SES, cut its revenue guidance twice during the previous fiscal year, citing ramp-up delays, the loss of a contract and other factors . ($1 = 0.8994 euros) (Reporting by Michal Aleksandrowicz in Gdansk Editing by Nick Zieminski)

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