12 Best News and Digital Media Stocks To Buy

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8. EchoStar Corporation (NASDAQ:SATS)

Number of Hedge Fund Holders: 32

EchoStar Corporation (NASDAQ:SATS) is a provider of television entertainment, networking services, connectivity, and technology. Its portfolio of brands includes EchoStar, Sling TV, DISH TV, Hughes, Boost Mobile, HughesNet, HughesON, and JUPITER.

The company restructured its balance sheet through a series of transactions in September to strategically refocus on its future and strengthen its financial position. It reported a revenue of $3.9 billion in fiscal Q3 2024, down 5% year-over-year. This decrease was primarily due to lower subscribers. However, the company is focusing on maintaining positive operating free cash flow and is set to meet this goal in 2024 through its operational plan and financial discipline.

EchoStar Corporation (NASDAQ:SATS) made considerable progress across its PayTV business in fiscal Q3 2024. This progress was attributed to its priority initiatives that supported customer engagement, cost optimization, and average revenue per user (ARPU) growth. Although the company is facing a challenging market landscape, it is operating positively across key metrics, including per-subscriber profitability, net adds, and churn. These metrics highlight the company’s potential for profitability.

In fiscal Q3 2024, the company’s ARPU increased 3.4% year over year. The company also achieved solid results throughout its businesses by focusing on customer experience improvements, product innovation, data-driven marketing efforts, focused investments, and AI-enabled advertising creative development.

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