EchoStar Corp. (NASDAQ:SATS) on Monday posted its fourth-quarter financial results, which topped Street estimates.
The company reported an adjusted loss of 70 cents per share, beating the analyst consensus loss estimate of 73 cents per share.
Quarterly revenue came in at $3.796 billion, topping estimates of $3.762 billion and down from $3.967 billion in the same quarter last year.
Adjusted OIBDA (Operating Income Before Depreciation and Amortization) totaled $583.68 million, down from $397.14 million in the prior period.
Segment Performance
The Wireless segment reported approximately $957.63 million in revenue for the quarter.
This segment posted a net subscriber decline of 9,000, compared with an increase of 90,000 Y/Y.
The company closed the quarter with 7.51 million retail wireless subscribers.
The Pay-TV segment, comprising DISH TV and Sling TV, generated about $2.36 billion in revenue for the quarter.
Net pay-TV subscribers decreased approximately 168,000 in the quarter compared to a decrease of roughly 253,000 Y/Y.
The company closed the quarter with 7.00 million pay-TV subscribers, including 5.02 million DISH TV subscribers and 1.98 million Sling TV subscribers.
The Broadband and Satellite Services segment, led by the Hughes enterprise and consumer brands, generated about $399.79 million in quarterly revenue.
Broadband subscribers decreased by approximately 44,000 in the quarter compared to a decrease of 59,000 Y/Y.
The company closed the quarter with 739,000 broadband subscribers.
Cash, cash equivalents, and restricted cash totaled $2.98 billion at the end of the period.
Last December, on CNBC's "Mad Money Lightning Round," Jim Cramer advised investors to sell EchoStar, saying, "I think the play is over."
SATS Price Action: EchoStar shares were up 0.90% at $116.57 at the time of publication on Monday, according to Benzinga Pro data.
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