EchoStar earnings increase 43%
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EchoStar Communications Corp., the second-largest U.S. satellite television service, said third-quarter profit gained 43%. Sales missed analysts’ estimates as new subscribers fell short of projections.
Net income rose to $199.7 million, or 44 cents a share, from $139.6 million, or 31 cents, a year earlier, the Englewood, Colo.-based operator of the Dish TV service said. Sales increased 13% to $2.79 billion, missing the $2.81-billion average of analysts’ estimates compiled by Bloomberg.
Total customers rose by 110,000 to 13.7 million from three months earlier. Analysts had projected 263,000 on average, Cowen & Co.’s Thomas Watts said in an Oct. 17 report. EchoStar shares rose 51 cents to $49.02 in extended trading Friday. They fell $1.96 to $48.51 in regular trading.
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