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DISH Network Q2 Profit Tops Estimates; Revenue Down On Lower Subscriber Count

dishnetwork aug03

DISH Network Corp. (DISH) reported second-quarter earnings per share of $0.83, compared to $0.09, prior year. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $0.71 for the quarter. Analysts' estimates typically exclude special items.

For the second-quarter, net income attributable to DISH Network totaled $439 million, compared to $40 million, a year ago. DISH noted that its net income for the second quarter of 2017 was negatively impacted by litigation expenses, net of related taxes, of $280 million. In addition, DISH's net income for the second quarter of 2018 was positively impacted by non-cash adjustments related to the adoption of the new ASC 606 revenue recognition standard, net of related taxes, of $33 million.

Second-quarter revenue was $3.46 billion compared to $3.64 billion, previous year. Analysts expected revenue of $3.44 billion for the quarter. Subscriber-related revenue for the quarter totaled $3.42 billion, compared to $3.61 billion for the year-ago period.

DISH Network ended its second quarter with 10.653 million DISH TV subscribers and 2.344 million Sling TV subscribers. The total 12.997 million Pay-TV subscribers is compared to 13.332 million Pay-TV subscribers at the end of second quarter 2017.

Net Pay-TV subscribers declined approximately 151,000 subscribers in the second quarter, compared to a decline of approximately 196,000 in the second quarter 2017. In the quarter, net DISH TV subscribers declined approximately 192,000 and Sling TV subscribers increased approximately 41,000. DISH TV's average monthly subscriber churn rate was 1.46 percent versus 1.83 percent for second quarter 2017.

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