Satellite group SES third-quarter earnings beat forecasts

Satellite company SES on Thursday reported stronger-than-expected third-quarter core earnings despite pressure on revenues.

Satellite players such as SES and rival Eutelsat are facing challenges as traditional video revenues decline and data becomes the dominant source of satellite industry revenues.

Its core video business, which distributes TV channels such as Sky, Canal+, ARD, and BBC to households and represents about 60% of revenues, had a 4.6% revenue drop in the third quarter due to lower revenues from mature markets in Western Europe and the Unites States.