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ECHOSTAR EchoStar Announces Financial Results for the Three Months Ended March 31 , 2021 May 6 , 2021 ENGLEWOOD , Colo . , May 6 , 2021 / PRNewswire / -- EchoStar Corporation ( NASDAQ : SATS ) today announced its financial results for the three months ended March 31 , 2021 . ECHOSTAR Three Months Ended March 31 , 2021 Financial Highlights : • Consolidated revenues of $ 482.6 million . • Net income of $ 77.6 million , consolidated net income attributable to EchoStar common stock of $ 78.5 million , and basic and diluted earnings per share of $ 0.84 . • Consolidated Adjusted EBITDA of $ 185.7 million ( see discussion and the reconciliation of GAAP to this non - GAAP measure below ) . " I am pleased with the company's financial performance in the first quarter of 2021 , " commented Michael Dugan , CEO and President of EchoStar . " We grew revenue , net income , and Adjusted EBITDA over the same period last year by focusing on meeting our customers ' needs for connectivity and prudently managing all areas of the business . " Three Months Ended March 31 , 2021 - Additional Information : • Consolidated revenue increased 3.6 % or $ 16.9 million year over year primarily driven by higher sales of broadband services to our consumer customers . This increase included an estimated negative foreign exchange impact of $ 5.9 million . • Adjusted EBITDA increased 25 % or $ 37.1 million year over year . • Hughes segment Adjusted EBITDA increased $ 39.7 million year over year . The increase was driven primarily by the higher gross margin associated with the growth in our consumer broadband service revenue and lower selling , general and administrative expenses . • ESS segment Adjusted EBITDA was essentially flat year over year . • Corporate and Other segment Adjusted EBITDA decreased by $ 2.5 million year over year . The decrease was primarily due to lower equity in earnings of unconsolidated affiliates , net , and higher legal expense . • Net income increased $ 135.3 million to $ 77.6 million . The increase was primarily due to higher operating income of $ 42.9 million and higher gains on investments , net , of $ 125.3 million , partially offset by higher income tax expense , net , of $ 29.6 million . • Total Hughes broadband subscribers are approximately 1,553,000 as of March 31 , 2021. Subscribers in the US decreased by 25,000 to approximately 1,164,000 . In Latin America , subscribers increased by 14,000 to approximately 389,000 . • For the three months ended March 31 , 2021 , approximately 70 % of Hughes segment revenue was attributable to our consumer customers with approximately 30 % attributable to our enterprise customers . • Cash , cash equivalents and current marketable investment securities were $ 2.3 billion as of March 31 , 2021 . • For the three months ended March 31 , 2021 , we purchased 4,770,714 shares of our Class A common stock in open market trades . • For the three months ended March 31 , 2021 , we purchased $ 90.5 million of our 7.625 % Sr. Unsecured Notes due June 2021 in open market trades . Set forth below is a table highlighting certain of EchoStar's segment results for the three months ended March 31 , 2021 and 2020 ( amounts in thousands ) ( all US GAAP amounts reference results from operations ) : Revenue For the three months ended March 31 , 2021 2020