{"id":60321,"date":"2020-02-21T00:03:35","date_gmt":"2020-02-20T16:03:35","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/echostar-subsidiary-hughes-posts-double-digit-revenue-growth-in-q4\/"},"modified":"2020-02-21T00:03:35","modified_gmt":"2020-02-20T16:03:35","slug":"echostar-subsidiary-hughes-posts-double-digit-revenue-growth-in-q4","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/echostar-subsidiary-hughes-posts-double-digit-revenue-growth-in-q4\/","title":{"rendered":"Echostar Subsidiary Hughes Posts Double-Digit Revenue Growth in Q4"},"content":{"rendered":"<\/p>\n<p>In its financial results released Thursday for the Fourth Quarter (Q4) that ended on Dec. 31, 2019, <strong>Echostar<\/strong> reported $499 million in revenue. This was an increase of about $45 million, or 10% from Q4 in 2018. But Echostar\u2019s net loss from continuing operations was $56.3 million. This was a decrease of loss by $72.5 million from last year. The company attributed the decreased loss to an impairment of long-lived asset of $65.2 million in Q4-18, higher net gains on investments, and higher operating income.&nbsp;<\/p>\n<p>Most of Echostar\u2019s revenue growth was from its<b> Hughes Network Systems<\/b> subsidiary, which posted revenue of approximately $492 million in Q4, a 10.6% increase from 2018 Q4. Hughes broadband subscribers were approximately 1,477,000 at the end of 2019 including approximately 237,000 subscribers in Central and South America.<\/p>\n<p>In addition, Echostar reported a consolidated Adjusted EBITDA of $155.9 million, an increase of 19% year-over-year. Hughes segment Adjusted EBITDA increased by $25.9 million, which the company attributed to higher revenue and associated margin from its consumer business and enterprise equipment sales.<\/p>\n<p>Michael Dugan, CEO and President of EchoStar said he was \u201cpleased\u201d with the Q4 and full year performance: \u201cWe grew our revenue and Adjusted EBITDA from 2018.&nbsp; We completed a transformative spin-off of our BSS business to <b>DISH Network Corporation<\/b> as well as additional strategic transactions that allow us to focus on the growing broadband and connectivity markets.&nbsp; We concluded our joint venture with <b>Yahsat<\/b> in Brazil in November, and as part of that transaction, acquired approximately 20,000 additional consumer subscribers.&nbsp; Operationally, we grew our consumer subscriber base by another 20,000 in the fourth quarter driven by our international markets which brings our broadband subscriber total to approximately 1.477 million as of year-end 2019. Until our EchoStar 24\/J3 satellite is launched, we are focused on increasing the yield on our existing assets and are continuing to explore opportunities in pursuit of our strategy of being a global connectivity provider.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In its financial results released Thursday for the Fourth Quarter (Q4) that ended on Dec. 31, 2019, Echostar reported $499 million in revenue. This was an increase of about $45 million, or 10% from Q4 in 2018. But Echostar\u2019s net loss from continuing operations was $56.3 million. This was a decrease of loss by $72.5 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":48696,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-60321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/60321"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=60321"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/60321\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/48696"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=60321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=60321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=60321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}