EchoStar Slips To Net Loss In Q2 On Weak Revenues; Stock Drops In Pre-market

(RTTNews) - EchoStar Corp. (SATS), a provider of satellite communication and Internet services, on Friday reported reported a net loss in its second quarter, compared to prior year's profit, with weak revenues.

In pre-market activity on the Nasdaq, EchoStar shares were losing around 5.4 percent to trade at $19.00.

The second-quarter net loss attributable to the company was $205.59 million, compared to prior year's profit of $212.66 million.

Loss per share was $0.76, compared to earnings per share of $0.69 in the year ago period.

Consolidated OIBDA totaled $442.16 million, compared to $622.86 billion in the year ago period.

EchoStar reported total revenue of $3.95 billion, lower than $4.36 billion last year.

Net Pay-TV subscribers decreased approximately 104,000 in the second quarter, compared to 294,000 in the year ago quarter.

Retail Wireless net subscribers decreased by around 16,000 in the quarter, compared to 188,000 in the year ago quarter.

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