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ENGLEWOOD, Colo.—Englewood, Colo.-based EchoStar Corp. said Monday that its losses surged in the third quarter due to write-downs and other losses on troubled investments.
EchoStar, which sells set-top boxes and also provides satellite services to Dish Network, says it lost $308 million, or $3.43 per share, in the quarter ended Sept. 30. That compares with a lost of $7 million, or 7 cents a share, a year ago.
Quarterly revenue increased 52 percent to $616 million.
Analysts polled by Thomson Reuters, on average, forecast losses of 19 cents per share on revenue of $520.3 million.
The earnings estimates typically exclude one-time items.
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