Hughes Network sees growth in LatAm
November 6, 2020
By Chris Forrester
Hughes Network Systems, a wholly-owned subsidiary of Charlie Ergen’s EchoStar, reported flat growth for its US-based broadband connections of 1.21 million during its Q3 financials.
However, there was better news from its Latin American division where customers grew 13.5 per cent to 364,000 in the quarter ending September 30th and taking the overall subscription to some 1.58 million.
For the three months ended September 30th 2020, approximately 71 per cent of Hughes segment revenue was attributable to its consumer customers with approximately 29 per cent attributable to its enterprise customers.
These days EchoStar’s non-Hughes revenues are relatively modest (overall for the 9-months to September 30th at just $13.233 million). Hughes delivered $1,378 million (up from $1.360 million in the same 9 months last year). Consolidated revenues overall were $1,398.6 million
“We had another outstanding quarter,” commented Michael Dugan, CEO/President of EchoStar. “We increased our consumer subscriber base by approximately 38,000, driven by our international markets, and grew our Net income and Adjusted EBITDA from the same period last year. The continued growth in demand for our service demonstrates the importance of our networks and services for businesses and families everywhere. We will continue to focus on the needs of our customers as connectivity becomes a more vital part of business, entertainment, and communications.”
The company was sitting on cash/cash equivalents of some $2.5 billion at the 9-month stage.