Echostar Corp Stock Price, News & Analysis

Hughes Network Systems has been approved as a provider under Georgia Technology Authority's GTA Direct program, facilitating broadband connectivity procurement for eligible government agencies. This partnership enables Hughes to offer diverse services, including satellite and LTE, enhancing connectivity across Georgia's 159 counties. Hughes aims to support government agencies in managing their networks, addressing increasing telework demands and online service availability. The company is recognized for its comprehensive managed services and has extensive experience collaborating with government entities.

EchoStar Mobile has partnered with Jersey Telecom to offer a unique hybrid satellite/cellular service across Europe and the UK. This innovative approach combines EchoStar's European S-band mobile satellite network with JT's 4G platform, resulting in the SYNERGY service suite. This solution features a single terminal, subscription, and management interface, enhancing connectivity for IoT and mobile users. As demand for reliable connectivity increases, this collaboration aims to simplify access and reduce costs for customers, promoting seamless digitalisation strategies.

Hughes Network Systems has been recognized by Gartner and Frost & Sullivan as a leader in managed network services and SD-WAN. Hughes was designated a Challenger in the November 2020 Gartner Magic Quadrant due to its strong execution and vision. Additionally, Frost & Sullivan highlighted Hughes as one of the top three managed SD-WAN providers for growth, showcasing its advanced AI-Ops feature that enhances service quality. These recognitions emphasize Hughes' commitment to customer satisfaction and innovative solutions in network management.

Hughes Network Systems has been recognized as an Industry Innovator by the Government Innovation Awards for its contributions to modernizing government networks. This award highlights Hughes' role in connecting government agencies, especially in areas lacking terrestrial broadband. The company's services include managed network services for federal agencies and high-speed satellite Internet provision as the exclusive satellite provider on the NASPO ValuePoint contract. Hughes aims to enhance IT capabilities across federal, state, and local levels.

EchoStar Corporation (NASDAQ: SATS) reported its third-quarter results for 2020, showcasing consolidated revenues of $473.5 million and a net income from continuing operations of $23.3 million. Year-over-year, the quarterly revenue rose slightly despite a $10.9 million negative foreign exchange impact. The company's Adjusted EBITDA increased by 9% or $14.3 million from the previous year. However, for the nine-month period, EchoStar faced a net loss of $49.3 million

with a diluted loss per share of $(0.41).

EchoStar Corporation (NASDAQ: SATS) will hold a conference call on November 5, 2020, at 11:00 a.m. ET to discuss its third quarter 2020 financial results. Investors can join via phone or a live webcast on the EchoStar investor relations website. For those unable to attend, a replay will be available starting at 2:15 p.m. ET on the same day and lasting until November 11, 2020. EchoStar specializes in satellite communication solutions, operating globally through its Hughes Network Systems and EchoStar Satellite Services.

Hughes Network Systems has launched its artificial intelligence (AI) for IT operations (AIOps) solution, now commercially available for enterprise Wide Area Networks (WANs). This innovation is already implemented across over 32,000 managed sites, achieving a 70% success rate in preventing service disruptions. The technology, driven by machine learning, analyzes vast data to proactively correct network issues, saving an estimated 1,750 hours of downtime. Hughes is the first provider to introduce a self-healing capability for WAN edges, enhancing operational efficiency and reducing network failures.

EchoStar Corporation (NASDAQ: SATS) announced its Q2 2020 financial results, reporting consolidated revenues of $459.5 million with a net loss of $14.8 million, translating to a diluted loss per share of $(0.12). For the first half of 2020, revenues reached $925.1 million, with a net loss from continuing operations of $72.6 million.

Despite challenges from COVID-19, the company increased its broadband subscriber base by 26,000 to approximately 1.542 million and demonstrated a 19% increase in adjusted EBITDA year-over-year.

EchoStar Corporation (NASDAQ: SATS) will hold its second quarter 2020 financial results conference call on August 6, 2020, at 11:00 a.m. Eastern Time. To participate, dial 1-877-815-1625 for US callers and 716-247-5178 for international participants, using Conference ID 3563538. Prior to the call, the financial results will be published and available on EchoStar's website. As a global leader in satellite communications, EchoStar operates through its segments, Hughes Network Systems and EchoStar Satellite Services.