EchoStar Corp SATS shares are trading lower on Friday.
The company reported adjusted fourth-quarter earnings per share of $1.21, beating the analyst consensus of $(0.10) loss.
The company reported quarterly revenues of $4.163 billion, beating the street view of $3.895 billion. Sales fell 8.2% year over year.
The net decrease in revenue primarily resulted from subscriber declines, most significantly in the Pay-TV segment.
Net loss attributable to EchoStar totaled $2.03 billion for the fourth quarter, compared to net income attributable to EchoStar of $984 million in the year-ago quarter.
Net Pay-TV subscribers decreased by approximately 314,000 in the fourth quarter, compared to a decrease of about 268,000 in the year-ago quarter.
The company closed the quarter with 8.53 million Pay-TV subscribers including 6.47 million DISH TV subscribers and 2.06 million SLING TV subscribers.
Broadband net subscribers decreased by approximately 59,000 in the fourth quarter, compared to a decrease of 57,000 in the year-ago quarter. The company closed the quarter with 1.00 million Broadband subscribers.
“We closed the year with the completion of the merger with DISH Network,” said Hamid Akhavan, president and CEO, EchoStar.
“With the close of the merger, we will continue to integrate our business and realize savings and operational efficiencies,” Akhavan said.
Price Action: SATS shares are trading lower by 7.48% to $12.13 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
