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ENGLEWOOD, Colo. -On Thursday, EchoStar Corporation (NASDAQ:SATS) reported fourth-quarter results that surpassed analyst expectations.
The company’s shares were up 1.69% in premarket trading.
The satellite and television services provider posted a loss of $0.44 per share, narrower than the $0.50 loss analysts had forecast. Revenue came in at $3.97 billion, topping estimates of $3.93 billion.
EchoStar’s Pay-TV segment, which includes DISH TV and Sling TV, saw net subscriber losses of 253,000 in Q4, an improvement from 314,000 losses in the year-ago quarter. The company ended 2024 with 7.78 million Pay-TV subscribers.
Wireless subscribers, excluding those in the Affordable Connectivity Program, increased by 105,000 in Q4. Total (EPA:TTEF) wireless subscribers grew by 90,000, compared to a decrease of 123,000 in Q4 2023.
"Overall, we made improvements in all of our lines of business and achieved our plan of ending the year delivering positive free cashflow," said CEO Hamid Akhavan.
For the full year 2024, EchoStar reported total revenue of $15.83 billion, down from $17.02 billion in 2023. The company attributed the decline primarily to subscriber losses, especially in its Pay-TV segment.
EchoStar’s net loss for 2024 narrowed to $119.55 million, compared to a $1.70 billion loss in 2023. The 2024 results benefited from a $689 million non-cash gain related to a debt exchange offer.
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