EchoStar Q3 Net Income Declines; Revenue Down 17.0%

(RTTNews) - EchoStar Corporation (SATS) reported that its third quarter net income attributable to common stock declined to $3.2 million from $22.4 million, last year. Earnings per share was $0.04 compared to $0.27. The company noted that the decrease was primarily due to a decrease in operating income driven by lower revenue and higher transaction costs related to the proposed merger with DISH.

Third quarter total revenue declined to $413.07 million from $497.39 million, last year. Cash, cash equivalents and current marketable investment securities were $2.0 billion as of September 30, 2023.

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