Telesat (NASDAQ:TSAT) shares are rising following the company’s stronger-than-expected second-quarter 2024 results. Telesat reported a consolidated revenue decline of 15.2% year-over-year to C$152.44 million, beating the consensus estimate of C$141.15 million. The revenue decrease was due to reduced services and lower rates on a renewed agreement with a North American TV customer. Quarterly operating income was C$61.66 million, down from C$422.973 million, with a margin of 40.5%. EPS was C$2.45, down from C$10.05 year-over-year, but above the consensus estimate of C$1.71. Telesat’s net income for the quarter was C$129 million, down from C$519 million last year, mainly due to C-band clearing income in 2023 and losses from foreign exchange rate changes ...