Douglas County-based Echo Star Communications Corp.’s third-quarter earnings more than doubled, driven by double- digit revenue growth and 255,000 net new subscribers.
The satellite-TV broadcaster said Tuesday that net income for the period increased to $208.9 million, or 46 cents a share, from $102.3 million, or 22 cents a share, a year earlier. After accounting for stock options, the company earned $205.6 million, or 45 cents per share.
The results fell below Wall Street analysts’ mean estimate of 47 cents a share.
Revenue rose 14 percent to $2.13 billion, from $1.86 billion last year, with particular strength in subscriber-related revenue. EchoStar ended the quarter with 11.71 million subscribers, up from 10.48 million a year earlier.
Also Tuesday, EchoStar disclosed that the Federal Communications Commission approved its $200 million purchase of satellite assets from Rainbow DBS Co., a unit of Cablevision Systems.
