ENGLEWOOD, Colo., May 8, 2024 /PRNewswire/ -- EchoStar Corporation (NASDAQ:SATS) announced its financial results for the three months ended March 31, 2024. Three Months Ended March 31, 2024: EchoStar reported total revenue of $4.01 billion for the first quarter 2024, compared to $4.39 billion in the year ago quarter. Net loss attributable to EchoStar in the first quarter 2024 was $107.38 million, compared to net income of $253.53 million in the year ago quarter. Diluted loss per share was $0.40, compared to earnings per share of $0.82 in the year ago quarter. Consolidated OIBDA totaled $470.16 million in the first quarter, compared to $701.09 million in the year ago quarter. (See OBIDA definition and non-GAAP reconciliation below.) "The EchoStar team performed as planned in the first quarter of 2024. We concentrated efforts on integrating the EchoStar and DISH Network businesses in order to maximize synergies and cost savings, facilitate growth opportunities, and drive operational alignment. Overall, ARPU increased in every business unit and customer satisfaction has improved," said Hamid Akhavan, president and CEO, EchoStar Corporation. "In addition, the business continues to focus on addressing necessary financing, improving our position in Retail Wireless, densifying and expanding the wireless network, maximizing our profitability with the newly launched EchoStar XXIV/Jupiter™ 3, and acquiring higher-quality Pay-TV customers." Three Months Ended March 31, 2024 - Additional Information: Net Pay-TV subscribers decreased approximately 348,000 in the first quarter, compared to a decrease of approximately 552,000 in the year-ago quarter. The company closed the quarter with 8.18 million Pay-TV subscribers including 6.26 million DISH TV subscribers and 1.92 million SLING TV subscribers. This change in net Pay-TV losses resulted from the decrease in net DISH TV subscriber losses due to a lower DISH TV churn rate and the decrease in net SLING TV subscriber losses, both resulting from our emphasis on acquiring higher quality subscribers, offset by lower gross new DISH TV subscriber activations. Retail Wireless net subscribers decreased by approximately 81,000 in both the first quarter and in the year-ago quarter. The company closed the quarter with 7.30 million Retail Wireless subscribers. The three months ended March 31, 2024, was positively impacted by a lower Retail Wireless churn rate, partially offset by lower gross new Retail Wireless subscriber activations and lower net ACP/Gen Mobile subscriber additions. Broadband net subscribers decreased by approximately 26,000 in the first quarter, compared to a decrease of 51,000 in the year-ago quarter. The company closed the quarter with 978,000 Broadband subscribers. The decrease in net Broadband subscriber losses was primarily due to the new EchoStar XXIV satellite service launch and increased subscriber demand for our new satellite service plans. Set forth below is a table highlighting certain of EchoStar's segment results for the three months ended March 31, 2024 and 2023 (all U.S. GAAP amounts reference results from operations): For the Three Months Ended March 31, 2024 2023 (in thousands) Revenue Pay-TV $     2,726,578 $     2,972,131 Retail Wireless 905,850 974,866 5G Network Deployment 29,504 18,907 Broadband and Satellite Services 382,586 439,596 All Other & Eliminations (29,675) (17,834) Total $     4,014,843 $     4,387,666 Net Income (loss) attributable to EchoStar $       (107,376) $        253,534 OIBDA Pay-TV $        755,510 $        777,808 Retail Wireless (17,518) 34,638 5G Network Deployment (333,564) (235,976) Broadband and Satellite Services 79,287 130,823 All Other & Eliminations (13,559) (6,201) Total $        470,156 $        701,092 Purchases of property and equipment, net of refunds (including capitalized interest related to regulatory authorizations) Pay-TV $          57,912 $          35,563 Retail Wireless $                    - - 5G Network Deployment $        549,173 871,042 Broadband and Satellite Services $          70,611 44,071 All Other & Eliminations $                    - - Total  $        677,696 $        950,676   Reconciliation of GAAP to Non-GAAP Measurement: For the three months Ended March 31, 2024 Pay-TV Retail Wireless 5G NetworkDeployment Broadband and SatelliteServices Consolidated  Eliminations (In thousands) Segment operating income (loss) $ 670,108 (74,417) (570,751) (39,554) (630) (15,244) Depreciation and amortization 85,402 56,899 237,187 118,841 (12,929) 485,400 OIBDA $ 755,510 $ (17,518) $ (333,564) $ 79,287 $ (13,559) $ 470,156 For the three months Ended March 31, 2023  Pay-TV   Retail Wireless   5G Network Deployment   Broadband and Satellite Services   Consolidated    Eliminations   (In thousands)  Segment operating income (loss) $ 675,233 (18,207) (333,603) 27,705 2,210 353,338 Depreciation and amortization 102,575 52,845 97,627 103,118 (8,411) 347,754 OIBDA $ 777,808 $ 34,638 $ (235,976) $ 130,823 $ (6,201) $ 701,092   Note on Use of Non-GAAP Financial Measures OIBDA is defined as "Operating income (loss)" plus "Depreciation and amortization." OIBDA, which is presented by segment above, is a non-GAAP measure reconciled to "Operating income (loss)" and does not purport to be an alternative to operating income (loss) as a measure of operating performance. We believe this measure is useful to management, investors and other users of our financial information in evaluating operating profitability of our business segments on a more variable cost basis as it excludes the depreciation and amortization expenses related primarily to capital expenditures and acquisitions for those business segments, as well as in evaluating operating performance in relation to our competitors. The condensed consolidated financial statements of EchoStar for the period ended March 31, 2024, are attached to this press release. Detailed financial data and other information are available in EchoStar's Form 10-Q for the period ended March 31, 2024, filed today with the Securities and Exchange Commission. EchoStar will host a conference call to discuss its earnings on Wednesday, May 8, 2024, at noon Eastern Time. The conference call will be broadcast live in listen-only mode on EchoStar's investor relations website at ir.echostar.com. To attend the call, please dial: (877) ...