France-backed Eutelsat reports stronger revenue in Starlink push

PARIS: Eutelsat on Friday reported better-than-expected revenue, bolstered by efforts from France to advance plans for a European competitor to Elon Musk’s Starlink, boosting the satellite operator as it pivots to focus on internet services.

Revenue for the first half of the year ended in ‌December reached 592 ⁠million euros ($702 ⁠million), surpassing analyst estimates of 581 million euros.

Though it remained loss-making, the company reduced operating losses by 85%.