Dish Network Corp. beats Wall Street estimates in the fiscal fourth quarter
- Dish Network Corp. beats Wall Street estimates in the fiscal fourth quarter.
- The satellite TV company reveals a decline in Wireless and Pay-TV subscribers.
- Dish Network shares were about 1% up in premarket trading on Monday.
Dish Network Corp. (NASDAQ: DISH) reported its financial results for the fiscal fourth quarter on Monday that topped analysts’ estimates for profit and revenue. The company, however, announced a decline in its Wireless and Pay-TV subscribers.
Dish Network Corp shares, that you can learn to buy online here, were reported about 1% up in premarket trading on Monday. Including the price action, the stock is now exchanging hands at £24.24 per share after recovering from a low of £12.94 per share in the last week of March 2020 when the impact of the Coronavirus pandemic was at its peak.
Dish Network’s Q4 financial results versus analysts’ estimates
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
Dish Network said that its net income in the fourth quarter printed at £522.50 million, that translates to 88 pence per share. In the same quarter last year, its net income was capped at a lower £277.29 million, or 49.18 pence per share. In the prior quarter (Q3), the Nasdaq-listed company noted £383.94 million of net income, as per the report published in November.
The satellite TV company valued its revenue in the recent quarter at £3.25 billion that represents an annualised growth of 41%. According to FactSet, experts had forecast the company to record a slightly lower £3.24 billion of revenue in Q4. Their estimate for per-share earnings stood at 55.60 pence per share.
In separate news from the United States, Goodyear Tire & Rubber Co. said it will buy Cooper Tire & Rubber Company for roughly £2.00 billion.
Dish Networks’ Pay-TV subscribers decreased by 133 thousand
Dish Network said on Monday that its net Pay-TV subscribers declined by 133 thousand from last year in the fourth quarter. Net DISH TV subscribers, it added, decreased by 149 thousand in Q4. The decline was partially offset by Sling TV that added 16 thousand new subscribers in the recent quarter. Lastly, the U.S. company’s wireless net subscribers saw a year over year decline of 363 thousand subscribers in Q4.
For the full financial year, Dish Network Corp. posted £11.04 billion of revenue. The Englewood based company reported £1.25 billion of annual profit in the recently concluded financial year or £2.15 per share.
Dish Network performed slightly downbeat in the stock market last year with an annual decline of close to 10%. At the time of writing, the American television provider has a market cap of £12.62 billion and a price to earnings ratio of 13.65.