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

DISH Network Corporation (NASDAQ:DISH) reported its results for the second quarter. DISH Network Corporation Class A, which together with its subsidiaries operates the DISH Network(NYSE:R) 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 Second Quarter

Results: Net income for the television company rose to $335 million (75 cents per share) vs. $257 million (57 cents per share) in the same quarter a year earlier. This marks a rise of 30.4% from the year earlier quarter.

Revenue: Rose 13.3% to $3.59 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: DISH fell short of the mean analyst estimate of 77 cents per share. It beat the average revenue estimate of $3.41 billion.

Quoting Management: “DISH Network delivered another quarter of strong growth in revenue and net income,” said Joe Clayton, president and CEO of DISH Network. “The second quarter was also marked by several other achievements including our purchase of most of the Blockbuster assets, settlement of the Tivo litigation, and renewal of a multi-year partnership with Frontier Communications, offering DISH Network’s digital TV entertainment to Frontier’s nearly four million customers in 27 states. Our decrease in net subscribers was primarily due to increased competitive pressures, including higher levels of discounting.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose more than twofold and in the fourth quarter of the last fiscal year, the figure rose 40.8%.

Revenue has risen the past four quarters. Revenue increased 5.5% to $3.22 billion in the first quarter. The figure rose 8.2% in the fourth quarter of the last fiscal year from the year earlier and climbed 10.9% in the third quarter of the last fiscal year from the year-ago quarter.

The company fell short of forecasts after beating estimates in the previous two quarters. In the first quarter, it topped the mark by 4 cents, and in the fourth quarter of the last fiscal year, it was ahead by 3 cents.

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

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(Source: Xignite Financials)

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