NasdaqGS:ECHOMedia
EchoStar (ECHO) Stock Rallies On Profit Swing As Revenue Still Slips
EchoStar stock edged up 1.8% to US$85.63 after the Q2 release, a modest bounce for a company that has been under pressure over the past quarter. The headline this time is not a small beat on some clean earnings per share figure. It is a huge swing in reported profitability, with Q2 basic earnings per share at US$29.14 and net income at US$8.46b, in stark contrast to recent quarterly losses.
Short term traders focused on the pop. Longer term investors are more likely to focus on whether this...