DISH Network Corp Earnings: Company Enjoys Fifth Straight Quarter of Double-Digit Growth
DISH Network Corporation (NASDAQ:DISH) reported net income above Wall Street’s expectations for the fourth quarter. DISH Network, together with its subsidiaries, operates the DISH Network television service, which provides a direct broadcast satellite subscription television service in the United States.
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DISH Network Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for DISH Network Corporation rose to $313 million (70 cents per share) vs. $251.8 million (56 cents per share) in the same quarter a year earlier. This marks a rise of 24.3% from the year-earlier quarter.
Revenue: Rose 13.2% to $3.63 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: DISH Network Corporation beat the mean analyst estimate of 61 cents per share. Analysts were expecting revenue of $3.62 billion.
Quoting Management: “DISH delivered a quarter and a year of strong growth in net income and total revenue compared to the same period last year,” said Joe Clayton, president and CEO of DISH Network. “By introducing new Blockbuster-branded services, we’ve begun to turn the tide in subscriber losses while continuing to face increased competitive pressures. We look forward to the introduction of our new Hopper product this quarter, the most technically advanced whole-home HD DVR in the world.”
The company has now seen its net income increase for three consecutive quarters. In the third quarter, net income rose 30.3% and in the second quarter, the figure rose 30.3%.
Revenue has increased for four quarters in a row. Revenue increased 12.3% to $3.6 billion in the third quarter. The figure rose 13.3% in the second quarter from the year earlier and climbed 5.5% in the first quarter from the year-ago quarter.
The company trumped estimates last quarter after falling shy in the two quarters prior. In the third quarter, it missed the mark by one cent, and in the second quarter, it came in under estimates by 2 cents.
Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved down from 71 cents a share to 69 cents over the last thirty days. The average estimate hasn’t changed from $3.30 per share for the fiscal year.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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