May 14, 2020 / 3:49 PM / 23 days ago

Eutelsat Q3 sales fall as pandemic hits communications sector

May 14 (Reuters) - French satellite company Eutelsat reported on Tuesday a 4.4% slump in third-quarter revenues as postponed sport events and reduced travel due to the coronavirus pandemic hit earnings.

The group, one of the world’s major satellite service providers, reported sales in the quarter ended March 31 of 322.0 million euros ($347.92 million), down from 336.7 million euros in 2019.

In April, Eutelsat revised down its full-year sales guidance to around 1.25 billion euros due to the pandemic, from a previous guidance in the lower end of a 1.27 to 1.32 billion euro range. ($1 = 0.9255 euros) (Reporting by Sarah Morland in Gdansk; Editing by Kirsten Donovan)

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