Dish Network earnings for the first quarter of 2019 have DISH stock heading higher on Thursday.
Dish Network (NASDAQ:DISH) reported earnings per share of 65 cents for the first quarter of the year. This is a drop from the company’s earnings per share of 70 cents from the same time in 2018. It also comes in just below Wall Street’s earnings per share estimate of 66 cents for the period, but wasn’t keeping DISH stock down today.
The Dish Network earnings report for the first quarter of 2019 also includes net income of $361.30 million. That’s down from the company’s net income of $385.32 million reported in the first quarter of the previous year.
Operating income reported in the Dish Network earnings release for the first quarter of the year comes in at $456.30 million. This is a decrease from the satellite company’s operating income of $529.51 million reported in the same period of the year prior.
Dish Network earnings for the first quarter of 2019 also see it bringing in revenue of $3.19 billion. This is worse than the company’s revenue of $3.46 billion reported during the same time last year. Despite the drop, it was still good news for DISH stock by matching analysts’ revenue estimate for the quarter.
Dish Network notes that it continues to see a decline in the number of pay-TV subscribers. The number was down by 259,000 during the most recent quarter from the first quarter of 2018. The first quarter of 2018 also saw a decline of 94,000 for pay-TV subscribers.
DISH stock was up 4% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.