ENGLEWOOD, Colo.—EchoStar Corp. on Monday reported its second-quarter profit more than doubled on an investment gain that more than offset a decline in revenue.
EchoStar, which sells set-top boxes and provides satellite services mainly to sister company Dish Network Corp., earned $101.8 million, or $1.18 per share, compared with $47.8 million, or 53 cents per share, in the same quarter a year earlier.
The latest quarter’s results include an investment gain of $110.1 million.
Revenue fell 21 percent to $383.1 million from $483.3 million due to lower unit sales of set-top boxes and revenue per unit.
Shares of Englewood, Colo.-based EchoStar rose 96 cents, or 6.5 percent, to $15.76 in morning trading. They have traded between $12.78 and $33.95 over the past year.
