EchoStar Posts Profit, Trims Growth Forecast
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EchoStar Communications Corp. had an unexpected second-quarter profit, though the No. 2 U.S. satellite-television broadcaster said it may add fewer subscribers this year than previously forecast.
The company also said it ended talks about a possible merger with top rival DirecTV, owned by Hughes Electronics Corp. “They did not share our enthusiasm for that combination,” EchoStar Chairman Charlie Ergen said in a conference call.
EchoStar earned $2.25 million, or break-even on a per-share basis, compared with a loss of $132.9 million, or 28 cents, a year ago. Sales rose 50% to $966.3 million from $646.1 million.
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