Welcome to our dedicated page for EchoStar Corporation news (Ticker: SATS), a resource for investors and traders seeking the latest updates and insights on EchoStar Corporation stock.
EchoStar Corporation (NASDAQ: SATS) stands as a premier global provider of satellite operations and video delivery solutions. With its headquarters in Englewood, Colorado, and operations spanning worldwide, EchoStar has been a trailblazer in the satellite and television industries for nearly 30 years. The company's wholly owned subsidiary, Hughes, is the world's leading provider of satellite broadband services, offering network technologies and managed services in over 100 countries. EchoStar’s consumer solutions portfolio includes the renowned HughesNet®, North America’s top high-speed satellite internet service, and the popular Slingbox® products from Sling Media.
EchoStar's innovations have garnered multiple Emmy Awards, significantly influencing how consumers view, receive, and manage TV programming. Following the merger with Dish Network, satellite television generates the bulk of EchoStar's revenue, serving around 6 million U.S. customers, approximately 10% of the traditional television market. In 2015, the company launched an internet-based television service under the Sling brand, which now serves about 2 million customers.
Recently, EchoStar has focused on expanding its wireless business. The firm has accumulated a substantial portfolio of spectrum licenses over the past 15 years, building a nationwide wireless network. It acquired Sprint's prepaid business, now serving about 7 million customers, mainly under the Boost brand. EchoStar also remains dedicated to its legacy businesses, providing satellite telecom services and equipment to businesses and consumers, including about 1 million internet customers.
EchoStar's recent achievements and projects highlight its continued growth and innovation. On April 26, 2024, Hughes opened a new cutting-edge manufacturing facility and private 5G incubation center in Germantown, Maryland. This facility underscores Hughes' commitment to technological advancement and fostering local talent. It produces high-tech products like the Hughes HT3000W JUPITER™ System satellite modem and the Hughes HL1120W Low Earth Orbit (LEO) satellite terminal. The facility also serves as a testing ground for private 5G solutions for enterprise and secure 5G networking applications critical to the U.S. Department of Defense.
Financially, EchoStar continues to show robust performance. On May 8, 2024, the company announced its first-quarter financial results, highlighting efforts to integrate EchoStar and DISH Network businesses, maximize synergies, and drive operational alignment. The addition of the EchoStar XXIV/Jupiter™ 3 satellite has further enhanced their service offerings, ensuring continued profitability and growth.
Moreover, EchoStar has secured significant government contracts. On May 15, 2024, the company announced it had been awarded an indefinite delivery/indefinite quantity (IDIQ) contract by the U.S. Naval Supply Systems Command's Spiral 4 wireless products and services purchasing program, worth up to $2.7 billion over 10 years. This contract will see Hughes Network Systems and Boost Mobile provide 5G wireless services and devices to support DoD usage in all U.S. states and territories.
Continuing its expansion, EchoStar's Hughes Europe subsidiary announced on June 11, 2024, a strategic initiative to meet the growing demand for high-speed connectivity and secure communications across Europe’s military and government sectors. This initiative involves collaboration with Telespazio, leveraging the Eutelsat Konnect VHTS satellite and Hughes JUPITER terminals to provide high-speed service.
EchoStar’s mission to connect everyone, everywhere remains central to its operations, as it continues to innovate and expand its services in the satellite, television, and wireless industries.
Boost Mobile, a nationwide wireless carrier, has launched a -time offer providing one FREE year of service on their $25 Unlimited plan or $300 off 12 months of service on higher-tier plans. This offer is available to new and existing customers who purchase an eligible 5G phone valued over $299 at full price on BoostMobile.com. The promotion includes the latest Apple and Samsung devices, with no contracts or trade-in required.
Key features of the offer include:
- Eligibility for current and new customers
- Available for up to 5 lines
- Exclusively available online at BoostMobile.com
- Access to Boost Mobile's nationwide 5G network
This promotion aligns with Boost Mobile's commitment to delivering value and making 5G technology more accessible to consumers.
Hughes Network Systems and Boost Mobile, both EchoStar (SATS) companies, successfully demonstrated optimized, multi-transport network management for the U.S. Navy. The demonstration tested remote network orchestration, WAN resiliency, and secure RAN sharing between standalone Private 5G networks at two naval bases. Hughes implemented its Smart Network Edge (SNE) technology and Network Management System (NMS) to maintain communications in contested environments.
The network supported Automated PACE planning, utilizing multiple transport paths for situational awareness. Hughes' technology can process new service requests in under 5 seconds to accommodate new threats. The demonstration confirmed that the EchoStar Private 5G ORAN network can maintain secure connectivity for devices when users travel outside the naval base, supporting inter-base operations.
Boost Mobile has become the official wireless provider for the University of Colorado in a multi-year partnership from 2024-2025 through 2027. Alongside this announcement, Boost is launching the Boost-exclusive moto g 5G Coach Prime smartphone, developed in collaboration with Deion "Coach Prime" Sanders, Head Football Coach of the University of Colorado Buffaloes.
The partnership aims to increase Boost Mobile's brand visibility and drive customer acquisition through targeted engagement. Boost will have a prominent presence at CU sports events, on campus, and across digital platforms. The moto g 5G Coach Prime, available for $29.99 with select Boost plans, features a 6.6" HD+ display, 50MP camera, and runs on Boost's nationwide 5G network. The device also includes weekly motivational messages from Coach Prime.
Hughes Network Systems, an EchoStar company (Nasdaq: SATS), has shipped over 5,000 HL1120W electronically steerable antenna (ESA) Low-Earth Orbit (LEO) terminals, establishing itself as a leading supplier for OneWeb. The HL1120W terminal features a low-profile design with a built-in modem, supporting speeds up to 195 Mbps down and 32 Mbps up. Hughes also develops gateway electronics and core modules for the Eutelsat OneWeb LEO system, capable of handling over 10,000 beam-to-beam and satellite-to-satellite handoffs per second. The company offers a fully managed LEO service, including design, installation, maintenance, and capacity, targeting business and government users in remote locations.
EchoStar (NASDAQ: SATS) reported financial results for Q2 2024. Total revenue for the first half of 2024 was $7.97 billion, down from $8.74 billion in the same period last year. The company reported a net loss of $312.97 million, compared to a net income of $466.20 million in the previous year. Diluted loss per share was $1.15, down from earnings per share of $1.51. Consolidated OIBDA totaled $912.31 million, a decrease from $1.32 billion.
In Q2 2024, Pay-TV subscribers decreased by 104,000, while Retail Wireless subscribers decreased by 16,000. Broadband subscribers decreased by 23,000. The company is focusing on aligning business synergies, profitable customer acquisition and retention, and improving its go-to-market approach for Retail Wireless.
EchoStar (NASDAQ: SATS) has announced a conference call to discuss its second quarter 2024 financial results on Friday, August 9, 2024, at noon Eastern Time. The call will be broadcast live in listen-only mode on EchoStar's investor relations website. Participants can dial in using the numbers (877) 484-6065 (U.S.) and (201) 689-8846, with the Conference ID: 13748126. A live webcast and 48-hour replay will be available on the company's Investor Relations website. EchoStar will distribute its financial results prior to the call.
EchoStar is a leading provider of technology, networking services, and entertainment solutions, operating under brands such as EchoStar, Boost Mobile, Sling TV, DISH TV, Hughes, HughesNet, HughesON, and JUPITER. The company offers services to consumers, enterprises, operators, and governments worldwide.
Hughes Network Systems, an EchoStar (Nasdaq: SATS) company, has launched a small business cybersecurity solution. The Hughes Managed Cybersecurity package offers enterprise-grade protection with automatic wireless backup connection. Powered by Fortinet's Next-Generation Firewall, it safeguards business networks and data against threats across all connected devices.
Key features include cyber protection, content filtering, higher network availability, flexible Wi-Fi connectivity, and real-time threat intelligence. Eligible Visa small business cardholders can save 25% on this solution through Visa SavingsEdge®. The package can be self-installed or professionally installed, and comes with 24/7 expert support and next-day maintenance.
Boost Mobile, the newest nationwide wireless carrier, has launched its state-of-the-art 5G network with new branding and simplified pricing. The company is offering unlimited plans starting at $25 a month, with the best pricing on any line. Boost Mobile now provides both prepaid and postpaid services under one brand, simplifying the customer experience.
Key features include:
- A new 30-day money-back guarantee for new customers
- Coverage to 99% of the country
- Four new wireless online plans with transparent pricing
- Add-on services like international coverage and Boost Protect
- A new visual identity and logo
Boost Mobile aims to shake up the wireless industry by offering more flexibility, better value, and a simplified digital purchasing experience at BoostMobile.com.
EchoStar (Nasdaq: SATS) has launched the Open RAN Center for Integration and Deployment (ORCID), a state-of-the-art testing and evaluation lab for Open RAN (O-RAN) solutions. The facility, located at EchoStar's Cheyenne, Wyoming data center, is supported by a $50 million grant from the U.S. Department of Commerce's NTIA Public Wireless Supply Chain Innovation Fund.
ORCID offers vendors the opportunity to test and validate O-RAN solutions using EchoStar's live commercial-grade cloud-native Open RAN network. The center features a real field test setup, helping drive the O-RAN ecosystem from lab to commercial deployment. EchoStar manages the ORCID consortium, which includes partners like Fujitsu, Mavenir, and VMware by Broadcom.
Vendors interested in participating in ORCID can now submit applications through the ORCID web portal at orcid.us/.
Hughes, an EchoStar Company (Nasdaq: SATS), has been awarded the 2023 Cradlepoint Acceleration Partner of the Year Award for its innovative wireless-first approach to connectivity. The award was presented at Cradlepoint's 2024 Global Partner Summit and highlights Hughes' achievements, including the introduction of its Managed Wireless service. This service offers rapid deployment, flexibility, reliability, and a comprehensive turnkey solution for enterprises.
Hughes' recognition underscores its strong relationships with leading technology providers and its ability to deliver secure, reliable wireless connectivity solutions. Cradlepoint acknowledged Hughes' exceptional year-over-year growth and commitment to positioning and selling their wireless and security solutions, which include 5G technologies. The partnership between Hughes and Cradlepoint aims to drive digital transformation for enterprises by enabling agile, secure, and reliable network infrastructures.
FAQ
What is the current stock price of EchoStar Corporation (SATS)?
What is the market cap of EchoStar Corporation (SATS)?
What is EchoStar Corporation?
What services does Hughes, a subsidiary of EchoStar, provide?
How many customers does EchoStar serve with its satellite television services?
What is HughesNet®?
What recent facility did Hughes open in April 2024?
What is the significance of EchoStar's merger with Dish Network?
What recent government contract did EchoStar secure?
How is EchoStar expanding its wireless network?
What is the focus of EchoStar's new initiative in Europe?
Where can I find more information about EchoStar's services?
