EchoStar Revenue Jumps
Updated from 8:46 a.m. EDT
Things are looking up at
EchoStar
(DISH) - Get DISH Network Corporation Class A Report
, even if its bottom line went down in the first quarter.
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The satellite TV company Thursday said it had a net loss of $43 million, or 9 cents a share, compared with a profit of $58 million, or 12 cents a share, in the year-ago period.
But on the positive side, its DISH satellite television service had approximately 360,000 net new subscribers during the first quarter, giving it a total of about 9.785 million subscribers as of March 31.
Revenue rose 16% to $1.58 billion from $1.36 billion a year ago.
The loss for the quarter includes a $78 million charge associated with the early redemption of debt.
Excluding items, analysts were expecting net income of $77.7 million, or 15 cents a share, on revenue of $1.55 billion, according to Thomson First Call.
Shares slipped $1 in early action Thursday to $33.29.
