Satellite firm SES on Thursday reported first-quarter earnings above market expectations, and said it is on track to deliver on its full-year outlook.
It also confirmed its schedule for both the O3b mPOWER and U.S. C-band projects.
One of the world's biggest commercial satellite operators, the Luxembourg-based company said first-quarter adjusted core earnings (EBITDA) fell 3.2 per cent year-on-year to 265 million euros ($293.57 million), but that still above 255 million euros seen in a company-compiled consensus.
"Solid EBITDA performance underscores our continued focus on execution across the business," Chief Executive Steve Collar said in the earnings statement.
SES' quarterly revenue grew 9.6 per cent to 490 million euros, slightly above the 484 million euros expected by analysts, driven by contribution from its DRS GES acquisition.
SES confirmed it is on track to receive $3 billion (pre-tax) payments towards the end of the year for the completion of C-band clearing for 5G in the U.S.
($1 = 0.9027 euros)