Media

DISH & EchoStar Confuse On Earnings (DISH, SATS)

DISH Network Corporation (NASDAQ: DISH) and former partner EchoStar Corp. (NASDAQ: SATS) have both reported earnings this morning.

DISH (DISH) earned $0.48 EPS on a 1% decline in revenues to $2.92 billion.  This is under estimates of $0.49 EPS and $2.96 billion in revenue, but the miss here is so close that in today’s market it might be considered a win.  DISH also lost 102,000 net subscribers by its own count.

EchoStar Corp. (SATS) is where this gets convoluted.  It posted a rather large loss at -$7.73 EPS on $496 million in revenue.  $247 million of the loss was a goodwill write down of $247 million for the purchase of Sling Media and $216 million in investment losses.  We do not have enough estimates on this one for it to really count, but consensus were about $563.3 million.

Neither stock has traded this morning.

Jon C. Ogg

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