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Echostar swings to profit in Q2 as pay TV subscribers continue declining
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TheDesk.net
During the three-month period that ended June 30, Echostar earned $3.58 billion in revenue, down 4 percent from $3.72 billion a year earlier.
Pay TV revenue declined 8.7 percent to $2.25 billion.
Echostar ended June with 6.39 million pay TV customers, including 4.68 million Dish TV subscribers and 1.71 million Sling TV subscribers.
Echostar did just about everything it could do to attract and retain pay TV subscribers during Q2: The company expanded its availability of ESPN in low-cost packages by launching a new “Essential” plan that includes the sports network plus Disney Channel and MeTV, which are highly-sought by pay TV customers.
While most pay television and broadband companies are seeing boosts in their wireless offerings, Echostar lost 118,000 retail wireless subscribers, reversing a gain of 212,000 during the year-ago quarter.