Hughes’ Strong 2Q Performance Propels EchoStar Results
Hughes reported a significant increase in its revenues for the first six months of its 2018 fiscal year, providing its parent company EchoStar with enough momentum to surprise analysts with positive overall results. For the six months to the end of June, Hughes had revenues of $827.1 million. This compares to a figure of $692.1 million in the same period of 2017.
While Hughes performed well, Echostar Satellite Services found the going tough. The Satellite Services business segment generated revenues of $192.2 million in the first six months of this year. This was a fall of $6.5 million compared to the same stage last year.
EchoStar management and financial analysts reacted positively to the company’s latest set of figures and an increase in overall profits. For the six months to the end of June, Echostar posted profits of $56.5 million, up over $12 million compared to the same stage last year. This result represents the third time that EchoStar has surpassed consensus EPS estimates during its past four financial quarters.