Satellite firm SES’s earnings miss expectations as Intelsat integration weighs

(Reuters) -European satellite company SES reported a ​lower than expected core ‌profit for the third quarter on ‌Thursday, weighed down by integration costs of its recent acquisition of Intelsat.

Adjusted earnings before ⁠interest, ‌taxes, depreciation and amortization came in at ‍328 million euros ($383 million), while analysts polled by ​the company were expecting ‌348 million euros on average.

SES completed the $3.1 billion acquisition of rival Intelsat in July, as it seeks ⁠to position itself ​as a key ​European competitor to Elon Musk’s Starlink and Amazon’‍s Project ⁠Kuiper alongside French peer Eutelsat.

($1 = 0.8575 ⁠euros)

(Reporting by Alban Kacher in ‌Gdansk, editing by ‌Milla Nissi-Prussak)