DISH Network Corp Stock Jumps Despite Earnings Miss

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DISH Network Corp (NASDAQ:DISH) stock was on the rise today despite reporting an earnings miss for the third quarter of 2017.

DISH Network Corp Stock Jumps Despite Earnings Miss

DISH Network Corp’s poor earnings report begins with revenue of $3.58 billion for the third quarter of the year. This is down from its revenue of $3.77 billion reported in the same period of the year prior. It also wasn’t able to reach Wall Street’s revenue estimate of $3.60 billion.

Earnings per share reported by DISH Network Corp in the third quarter of 2017 was 57 cents. This is a decline of 10 cents when compared to its earnings per share reported in the third quarter of 2016. It also came in two cents below analysts’ earnings per share estimate for the third quarter of the year.

DISH Network Corp attributes its poor earnings report for the third quarter of the year to recent troubles from Hurricane Maria. This hurricane took out power in Puerto Rico and the U.S. Virgin Islands. As a result, DISH cut 145,000 subscribers from its service to keep them from paying for something they can’t use.

While DISH Network Corp’s third quarter wasn’t filled with much good news, there was a bright spot from its Pay-TV subscribers. The company notes that its net Pay-TV subscribers in the U.S. were 16,000 in the quarter. This is likely connected to the growth of Sling TV customers and the company’s efforts to attract cord cutters to the service.

DISH stock was up 4% as of Thursday morning, but is down 11% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/dish-network-corp-stock-up-despite-earnings-miss/.

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