DISH Network Earnings: Double-Digit Revenue Growth
DISH Network Corporation (NASDAQ:DISH) reported its results for the first 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 First Quarter
Results: Net income for DISH Network Corporation fell to $360.3 million (80 cents per share) vs. $549.4 million ($1.22 per share) a year earlier. This is a decline of 34.4% from the year-earlier quarter.
Revenue: Rose 11.1% to $3.58 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: DISH Network Corporation beat the mean analyst estimate of 70 cents per share. Analysts were expecting revenue of $3.61 billion.
Last quarter’s profit decrease ends a four-quarter streak of profit increases. In the fourth quarter of the last fiscal year, net income rose 24.2% from the year earlier, while the figure increased 30.3% in the third quarter of the last fiscal year, 30.3% in the second quarter of the last fiscal year and more than twofold in the first quarter of the last fiscal year.
Revenue has risen for the last four quarters. Revenue increased 13.2% to $3.63 billion in the fourth quarter of the last fiscal year. The figure rose 12.3% in the third quarter of the last fiscal year from the year earlier and climbed 13.3% in the second quarter of the last fiscal year from the year-ago quarter.
The company has beaten estiamtes for two quarters in a row. In the fourth quarter of the last fiscal year, it topped expectations with net income of 70 cents versus a mean estimate of net income of 61 cents per share.
Looking Forward: Expectations for the company’s next-quarter performance are higher than they were ninety days ago. Over the past three months, the average estimate for the second quarter has risen to 75 cents per share from 74 cents. For the fiscal year, the average estimate has moved up from $2.72 a share to $2.75 over the last ninety days.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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