EchoStar Posts Narrower Loss for 4th Quarter
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EchoStar Communications Corp., the No. 2 U.S. satellite television company, posted a narrower fourth-quarter loss, with net subscriber additions on the high side of analysts’ expectations.
The Littleton, Colo.-based company, which operates the Dish Network and is hoping for government approval to take over its larger rival, Hughes Electronics Corp., posted a loss of $42.9 million, or 9 cents a share, compared with a loss of $184.2 million, or 39 cents, in the year-earlier quarter.
Revenue increased 43% to $1.15 billion from $805.4 million a year earlier, beating analysts’ expectations.
EchoStar shares rose 11%, or $2.52, to $26.12 on Nasdaq.
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