Dish Falls Short on Q2 Profit and Revenue

by Christopher Freeburn | August 8, 2012 10:25 am

Dish Falls Short on Q2 Profit and Revenue

Dish Network (NASDAQ:DISH[1]) announced on Wednesday that it earned $225.7 million during the second quarter[2], down 33% from $334.8 million in the same period last year.

The satellite TV service provider recorded revenue of $3.57 billion, which slipped 0.6% from 2011, and disappointed Wall Street, which had expected revenue of $3.64 billion, Reuters noted. Adjusted EPS for the quarter was 59 cents. Analysts had predicted adjusted earnings of 68 cents a share.

Shares of Dish Network slid almost 2% in Wednesday morning trading.

The company reported that it had stemmed subscriber losses. It lost 10,000 net subscribers during the second quarter, better than the 52,000 subscribers lost in the same time by rival DirecTV (NASDAQ:DTV[3]), and considerably better than last year when Dish shed 135,000 subscribers.

The quarterly numbers did not include fallout from Dish’s dispute[4] with AMC Networks (NASDAQ:AMCX[5]), which led to the satellite service dropping AMC channels from its lineup.

Last week, DirecTV reported second-quarter earnings and revenue that increased compared to last year[6], but still missed Wall Street forecasts.

Endnotes:
  1. DISH: http://studio-5.financialcontent.com/investplace/quote?Symbol=DISH
  2. during the second quarter: http://www.reuters.com/article/2012/08/08/dishnetwork-results-idUSL4E8J83QL20120808
  3. DTV: http://studio-5.financialcontent.com/investplace/quote?Symbol=DTV
  4. fallout from Dish’s dispute: http://investorplace.com/2012/07/amc-channels-out-at-dish-over-fee-dispute/
  5. AMCX: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMCX
  6. second-quarter earnings and revenue that increased compared to last year: http://investorplace.com/2012/08/directv-profit-misses-loses-subscribers-in-q2/

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