Reported 28 days ago
EchoStar Corporation (NASDAQ:SATS) experienced a sharp decline of 17.37% in its stock price, closing at $26.93, following disappointing earnings reports for the second quarter and first half of the year. The company's net loss attributable to shareholders increased by 49% to $306 million, with revenues decreasing by 5% to $3.7 billion from the previous year. Both Pay TV and broadband segments faced significant revenue declines, raising concerns among investors despite the CEO's assertion that the performance met expectations.
Source: YAHOO