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