Echostar

Q2 FY2026 EarningsFY26 Q2 results were significantly distorted by a massive $9.73B non-cash deconsolidation gain, leading to a major GAAP EPS beat of $24.12 vs. -$0.09 expected. Revenue of $3.58B was in-line with consensus. Despite the technical net income surge, the core business remains under pressure with a 10.1% YoY decline in Pay-TV subscribers and negative operating cash flow when excluding one-time items. Management's successful closing of the $20.25B AT&T spectrum sale post-quarter end has effectively resolved near-term going concern doubts.