EchoStar reports larger 2nd-qtr loss than analysts expected

EchoStar reports 2Q loss

ENGLEWOOD, Colo. — EchoStar Corp., which makes equipment such as set-top boxes for satellite TV providers, reported a second-quarter loss Monday even though revenue climbed, as the year-ago quarter included a large gain on an investment.

For the April-June quarter, EchoStar’s loss totaled $41.5 million, or 49 cents per share, compared with a profit of $101.8 million, or $1.18 per share, in the year-ago quarter.

Analysts surveyed by Thomson Reuters expected a loss of 2 cents per share.

In the second quarter last year, EchoStar’s bottom line received a boost from a $110.1 million gain on an investment.

Revenue rose 57 percent to $603 million — much higher than the $479.4 million analysts were looking for.

EchoStar shares fell 7 cents to $19.58 in after-hours trading. During regular trading, the stock fell 67 cents, or 3.3 percent, to finish at $19.65.