Revenue Update on Echostar Corporation(NASDAQ:SATS)

Echostar Corporation(NASDAQ:SATS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $757.63M. Analysts estimated a revenue of $766.99M. Earnings per share were $0.60. Analysts had estimated an EPS of $0.43.

Echostar Corporation (SATS) shares turned negative on Wednesdays trading session with the shares closing down -0.28 points or -0.73% at a volume of 1,34,444. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $38.69. The peak price level was also seen at $38.69 while the days lowest was $38.0159. Finally the shares closed at $38.21. The 52-week high of the shares is $46.96 while the 52-week low is $30.86. According to the latest information available, the market cap of the company is $3,587 M.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, Kenneth G Carroll (EVP of Corp & Bus Development) sold 6,279 shares at $40.39 per share price.Also, On Mar 28, 2016, Kranti Kilaru (EVP, Bus Systems, IT & Ops) sold 800 shares at $42.96 per share price.On Mar 14, 2016, Anthony M Federico (director) sold 2,000 shares at $45.47 per share price, according to the Form-4 filing with the securities and exchange commission.

EchoStar Corporation is a holding company. Through its subsidiaries the Company provides satellite operations video delivery solutions digital set-top boxes and broadband satellite technologies and services delivering network technologies managed services and solutions for enterprises and Governments. It operates in three business segments: EchoStar Technologies Hughes and EchoStar Satellite Services. Its satellite fleet consists of both owned and leased satellites which include SPACEWAY 3(1) QuetzSat-1(2) EchoStar XVII and AMC-15 among others. The EchoStar Technologies segment designs develops and distributes digital set-top boxes and related products and technology. The Hughes segment provides satellite broadband Internet access and broadband network services and equipment to enterprise markets. The EchoStar Satellite Services segment uses certain of its owned and leased in-orbit satellites and related licenses to provide satellite services.

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