Reports Q3 revenue $3.89B, consensus $3.91B. “The EchoStar (SATS) team continued to execute against our plan in the third quarter. Our efforts focused on profitable customer acquisition and retention, strengthening our consumer offerings and enhancing our nationwide Open RAN 5G network,” said CEO Hamid Akhavan. “In addition, we recently announced a series of transformative transactions that will disrupt the wireless and pay-TV industries. We secured financing to meet our November debt maturity and announced an agreement with a group of our convertible note holders. This last transaction provides approximately $5.2B in additional financing and extends payment terms for the existing convertible notes tendered. In addition, we agreed to sell our pay-TV business to DIRECTV, subject to successful completion of an ongoing exchange and other closing conditions.”
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