DISH Network Earnings: Profit Streak Snapped by a Loss
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 Corporation Earnings Cheat Sheet
Results: Reported a loss of $158.5 million (35 cents per diluted share) in the quarter. The cable TV had net income of $319.1 million or 71 cents per share in the year-earlier quarter.
Revenue: Fell 2.3% to $3.52 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: DISH Network Corporation fell short of the mean analyst estimate of 55 cents per share. It fell short of the average revenue estimate of $3.61 billion.
The company’s loss in the latest quarter follows profits in the previous three quarters. The company reported a profit of $225.7 million in the second quarter, a profit of $360.3 million in the first quarter and $312.7 million in the fourth of the last fiscal year.
The company has now fallen short of estimates in the last two quarters. In the second quarter, it missed expectations by 7 cents with net income of 59 cents versus a mean estimate of net income of 66 cents per share.
Revenue has fallen in the past two quarters. In the second quarter, revenue declined 0.5% to $3.57 billion from the year-earlier quarter.
Looking Forward: Over the past ninety days, the average estimate for the fourth quarter has fallen from 60 cents per share to 56 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. At $2.40 per share, the average estimate for the fiscal year has fallen from $2.68 ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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