DISH Network Earnings Cheat Sheet: Profits Grow by Double Digits For Fifth Straight Quarter

DISH Network Corporation (NASDAQ:DISH) reported its results for the third 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 Third Quarter

Results: Net income for the catv systems company rose to $319.1 million (71 cents per share) vs. $245 million (55 cents per share) in the same quarter a year earlier. This marks a rise of 30.3% from the year earlier quarter.

Revenue: Rose 12.3% to $3.6 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: DISH fell short of the mean analyst estimate of 72 cents per share. Analysts were expecting revenue of $3.65 billion.

Quoting Management: “DISH delivered another quarter of strong growth in net income compared to the same period last year,” said Joe Clayton, president and CEO of DISH Network. “Our net subscriber loss improved over the second quarter of this year but continued to be affected by increased competitive pressures, including aggressive competitive promotional offers, discounting and a weak housing market. Going forward, we plan to build on the momentum of our introduction of the Blockbuster-branded programming service which allows DISH customers to stream movies and TV shows as well as receive DVDs by mail.”

Key Stats:
The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 30.3% and in the first quarter, the figure rose more than twofold.

Revenue has risen the past four quarters. Revenue increased 13.3% to $3.59 billion in the second quarter. The figure rose 5.5% in the first quarter from the year earlier and climbed 8.2% in the fourth quarter of the last fiscal year from the year-ago quarter.

The company has now fallen short of estimates in the last two quarters. In the second quarter, it missed expectations by 2 cents with net income of 75 cents versus a mean estimate of net income of 77 cents per share.

Looking Forward: Expectations for the company’s next quarter results are lower than they have been. Over the past sixty days, the average estimate for fourth quarter has fallen from 69 cents per share to 66 cents. For the fiscal year, the average estimate has moved down from $3.40 a share to $3.34 over the last sixty days.

Competitors to Watch: DIRECTV (NASDAQ:DTV), TiVo Inc. (NASDAQ:TIVO), Netflix, Inc. (NASDAQ:NFLX), Comcast Corporation (NASDAQ:CMCSA), Cablevision Systems Corp. (NYSE:CVC), Time Warner Cable Inc. (NYSE:TWC), Hughes Communications Inc. (NASDAQ:HUGH), and Liberty Media Corp (NASDAQ:LINTA).

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(Source: Xignite Financials)