DISH Network earnings for the fourth quarter of 2018 has DISH stock down on Wednesday.
DISH Network (NASDAQ:DISH) reported earnings per share of 64 cents for the fourth quarter of the year. This is down from its earnings per share of $2.64 reported during the fourth quarter of 2017. It is also bad news for DISH stock by missing Wall Street’s earnings per share estimate of 67 cents for the period.
The DISH Network earnings report for the fourth quarter of 2018 also includes net income of $337 million. This is a drop from the company’s net income of $1.39 billion reported in the same period of the year prior.
Revenue reported in the DISH Network earnings report for the fourth quarter of the year came in at $3.31 billion. This is a decrease from the satellite service company’s revenue of $3.48 billion from the fourth quarter of the previous year. However, it does still come in above analyst’ revenue estimate of $3.28 billion for the quarter, but that wasn’t able to keep DISH stock from falling on Wednesday.
As for results from the full year of 2018, DISH Network earnings per share were $3.00 on revenue of $13.62 billion. Earnings per share and revenue from the previous year was $4.07 and $14.39 billion. That’s a mixed result when compared to Wall Street’s earnings per share estimate of $3,04 and revenue estimate of $13.59 billion for the year.
DISH stock was down 8% as of Wednesday afternoon, but is up roughly 21% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.