You will be redirected back to your article in seconds

EchoStar posts light loss

Stock up 10% on earnings report

HOLLYWOOD — Shares of EchoStar Communications advanced more than 10% Thursday as the direct broadcast satellite company announced a second-quarter loss that was 25% less than analysts expected.

EchoStar’s net loss of $54 million for the quarter ended June 30, which compared with a loss of $64 million in the year-earlier period, came as revenues increased 149% to $246 million.

The losses, while better than expectations, reflected the marketing costs necessary to recruit DBS subscribers. To provide a measure of performance before such investments, EchoStar said its “pre-marketing cash flow” more than tripled to $76 million.

Meanwhile, the company’s regular cash flow — or earnings before interest, taxes, depreciation and amortization — gained 167% to $8 million.

EchoStar added 180,000 subscribers to its Dish Network during the second quarter, bringing its total to 1.4 million subscribers.

Based in Littleton, Colo., EchoStar has indirectly benefited from regulatory setbacks suffered by DBS competitor PrimeStar, which has been denied, on antitrust grounds, a change of ownership to a consortium of cablers.

EchoStar stock gained $2.19 a share Thursday to close at $25.63.

More Biz

  • Oprah Responds to Trump Tweet Claiming

    Oprah Responds to Trump's Tweet Claiming Bias in '60 Minutes' Segment

    HOLLYWOOD — Shares of EchoStar Communications advanced more than 10% Thursday as the direct broadcast satellite company announced a second-quarter loss that was 25% less than analysts expected. EchoStar’s net loss of $54 million for the quarter ended June 30, which compared with a loss of $64 million in the year-earlier period, came as revenues […]

  • Music Theatre International

    Drew Cohen Named Global CEO of Music Theatre International

    HOLLYWOOD — Shares of EchoStar Communications advanced more than 10% Thursday as the direct broadcast satellite company announced a second-quarter loss that was 25% less than analysts expected. EchoStar’s net loss of $54 million for the quarter ended June 30, which compared with a loss of $64 million in the year-earlier period, came as revenues […]

  • 'Daily Show's' Michelle Wolf to Host

    'Daily Show' Contributor Michelle Wolf to Host White House Correspondents' Dinner

    HOLLYWOOD — Shares of EchoStar Communications advanced more than 10% Thursday as the direct broadcast satellite company announced a second-quarter loss that was 25% less than analysts expected. EchoStar’s net loss of $54 million for the quarter ended June 30, which compared with a loss of $64 million in the year-earlier period, came as revenues […]

  • Harvey Weinstein ousted

    Weinstein Co. Sued by Lindt Chocolatier Over Canceled Golden Globes Party

    HOLLYWOOD — Shares of EchoStar Communications advanced more than 10% Thursday as the direct broadcast satellite company announced a second-quarter loss that was 25% less than analysts expected. EchoStar’s net loss of $54 million for the quarter ended June 30, which compared with a loss of $64 million in the year-earlier period, came as revenues […]

  • Pandora Shares Surge as Fourth-Quarter Subscription

    Pandora Shares Surge as Fourth-Quarter Subscription Revenue Climbs 63%

    HOLLYWOOD — Shares of EchoStar Communications advanced more than 10% Thursday as the direct broadcast satellite company announced a second-quarter loss that was 25% less than analysts expected. EchoStar’s net loss of $54 million for the quarter ended June 30, which compared with a loss of $64 million in the year-earlier period, came as revenues […]

  • Eric Schneiderman

    Weinstein Co. Deal Moving Ahead After Three-Hour Meeting With Attorney General

    HOLLYWOOD — Shares of EchoStar Communications advanced more than 10% Thursday as the direct broadcast satellite company announced a second-quarter loss that was 25% less than analysts expected. EchoStar’s net loss of $54 million for the quarter ended June 30, which compared with a loss of $64 million in the year-earlier period, came as revenues […]

More From Our Brands

Access exclusive content