EchoStar Corporation reported second-quarter net income of $8.46 billion on total revenues of $3.58 billion, but the profit surge was driven by a $9.73 billion non-cash deconsolidation gain from restructuring. Stripping away accounting adjustments, EchoStar's retail wireless business lost 118,000 net subscribers to close at 7.38 million, while its pay-TV segment lost 241,000 users. AT&T Inc. reported revenues of $31.56 billion and adjusted EPS of $0.65 on July 22, beating Wall Street estimates of $0.59, and generated $4.67 billion in quarterly free cash flow. Hedge fund holders of EchoStar increased from 90 in Q4 to 102 in Q1, while short interest stands at 23.33% of float; AT&T's hedge fund holders fell from 77 to 72, with short interest at just 1.57% of float.
EchoStar CorporationCore wireless and pay-TV subscriber losses overshadow the non-cash deconsolidation gain.
AT&T Inc.Beat earnings estimates and generated strong free cash flow.
