DISH Network Corporation (NASDAQ:DISH) reported its results for the second 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: Net income for the cable TV fell to $226 million (50 cents per share) vs. $334.8 million (75 cents per share) a year earlier. This is a decline of 32.5% from the year-earlier quarter.
Revenue: Fell 0.6% to $3.57 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: DISH Network Corporation fell short of the mean analyst estimate of 68 cents per share. Analysts were expecting revenue of $3.61 billion.
Quoting Management: “In the face of a difficult economy and stiff competition, a disciplined approach to subscriber acquisition and retention is paying off,” said DISH CEO and President Joseph Clayton. “Our focus has overcome the seasonality of the second quarter with year-over-year growth in gross activations and a reduction in churn.”
A year-over-year revenue decrease last quarter breaks a four-quarter streak of revenue increases. The best quarter in that span was the second quarter of the last fiscal year, which saw revenue rise 13.3%.
The company has now seen net income fall in each of the last two quarters. In the first quarter, net income fell 34.4% from the year-earlier quarter.
The company fell short of forecasts after beating estimates in the previous two quarters. In the first quarter, it topped the mark by 10 cents, and in the fourth quarter of the last fiscal year, it was ahead by 9 cents.
Looking Forward: Over the last 30 days, analysts have not been optimistic about the company’s next-quarter performance. The average estimate for the third quarter is now 63 cents per share, down from 66 cents. Over the past sixty days, the average estimate for the fiscal year has reached $2.73 per share, a decline from $2.81.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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