EchoStar Reports Q2 Loss; Pay-TV Subscribers Drop Sharply
Portfolio Pulse from Nabaparna Bhattacharya
EchoStar Corporation (NASDAQ:SATS) reported a Q2 loss per share of 76 cents, missing the expected 17 cents loss. Quarterly revenues of $3.953 billion also missed the analyst consensus of $3.983 billion. The company saw a significant drop in Pay-TV subscribers, with a net decrease of 104,000 in Q2. Retail Wireless net subscribers also decreased by 16,000. EchoStar's shares are trading lower by 15.8% following the report.
August 09, 2024 | 3:58 pm
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EchoStar reported a Q2 loss per share of 76 cents, missing the expected 17 cents loss. Quarterly revenues of $3.953 billion missed the analyst consensus of $3.983 billion. The company saw a significant drop in Pay-TV subscribers, with a net decrease of 104,000 in Q2. Retail Wireless net subscribers also decreased by 16,000. EchoStar's shares are trading lower by 15.8% following the report.
EchoStar's Q2 financial results were disappointing, with both earnings and revenues missing expectations. The significant drop in Pay-TV and Retail Wireless subscribers further exacerbates the negative sentiment. As a result, the stock price has dropped by 15.8%, indicating a strong negative short-term impact.
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IMPORTANCE 90
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