Dish Network Earnings: Here’s Why Shares are Down Now
Dish Network Corp. (NASDAQ:DISH) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 2.80%.
Dish Network Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 41.25% to $0.47 in the quarter versus EPS of $0.80 in the year-earlier quarter.
Revenue: Decreased 0.75% to $3.56 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Dish Network Corp. reported adjusted EPS income of $0.47 per share. By that measure, the company missed the mean analyst estimate of $0.53. It missed the average revenue estimate of $3.61 billion.
Quoting Management: “We have been pleased with the market’s response to our Hopper® with Sling® roll out, despite headwinds from our first price increase in two years,” said Joseph P. Clayton, DISH president and CEO. “Broadband sales are encouraging, especially given that almost all of our dishNET™ customers have bundled with our pay-TV service.”
Key Stats (on next page)…