EchoStar Corporation (ECHO) reported a second-quarter net income of $8.46 billion. This compares to a $306.13 million loss in the same period last year. Diluted earnings reached $24.12 per share. This surpassed analyst estimates for a loss. A one-time, non-cash gain of $9.73 billion from a deconsolidation primarily drove the profit. Excluding this item, adjusted net income totaled $49.46 million.
The company's second-quarter revenue was $3.58 billion. This figure was slightly ahead of expectations. Revenue decreased from $3.72 billion a year ago. The underlying business continued to face headwinds. The company experienced subscriber losses across all segments. EchoStar lost 241,000 net pay-TV subscribers during the quarter. It also lost 118,000 retail wireless subscribers. Additionally, the company lost 59,000 broadband subscribers.