Why EchoStar Shares Are Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
EchoStar Corp (NASDAQ:SATS) shares fell after reporting Q4 earnings. Despite beating earnings and revenue expectations with $1.21 EPS and $4.163 billion in revenue, the company saw a net loss of $2.03 billion and a decline in Pay-TV and Broadband subscribers. The year-over-year sales dropped by 8.2%, mainly due to subscriber declines in the Pay-TV segment. EchoStar also completed a merger with DISH Network, aiming for operational efficiencies.
March 01, 2024 | 4:47 pm
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EchoStar Corp reported a Q4 earnings beat but saw a significant net loss of $2.03 billion and a decline in subscribers, leading to a 7.48% drop in its stock price.
Despite beating earnings and revenue expectations, EchoStar's significant net loss and declining subscriber numbers have negatively impacted investor sentiment, leading to a decrease in its stock price.
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IMPORTANCE 90
RELEVANCE 100