Earnings: EchoStar Net Loss Expands; Revs Rise 52 Percent

EchoStar (NSDQ: SATS) posted a Q3 net loss of $308 million, a significant widening of last year’s $7 million. Like its Siamese twin DISH Network, which just reported a 54 percent decline in net income, it cited impairment charges tied to investment holdings. Basic loss per share was $3.43 for the quarter, compared with a basic loss per share of $0.07 in Q307.

In the Equipment Sales category, which includes Slingboxes and other hardware, grew 34.8 percent to $462 million year-over-year. Most of the sales stemmed from set-top boxes sold back to DISH Network after EchoStar was spun off. Thomson Reuters (NASDAQ: TRIN) analysts’ consensus expected losses of $0.19 per share on revenue of $520.3 million.AP reported

Release | Webcast (1:00 PM EDT)

Comments have been disabled for this post