DISH Network Shares Jump After Fourth-Quarter Earnings Beat

Dish Network beat Wall Street forecasts with its fourth-quarter earnings report, thanks in part to improved retention of its pay-TV customers.
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DISH Network Corp.  (DISH) - Get Report shares jumped higher Monday after the satellite TV provider reported stronger-than-expected fourth-quarter earnings.

DISH said diluted earnings for the three months ending in December came in at $1.24 per share, up 80% from the same period last year and well ahead of the Street consensus forecast of 75 cents per share. Group revenues also impressed, rising 41% to $4.56 billion and again topping analysts' estimates of a $4.4 billion tally.

DISH said the rate of pay-TV subscribers leaving the network slowed to 133,000 over the fourth quarter, giving it a total of 11.29 million, including 8.82 million DISH TV subscribers and 2.47 million SLING TV subscribers.

Retail wireless subs, however, continued to depart, with a net reduction of 363,00, leaving the year-end total with 9.06 million customers. 

DISH Network shares were marked 3.2% higher in pre-market trading immediately following the earnings release to indicate an opening bell price of $34.75 each, a move that would nudge the stock into positive territory for the past six month period.

DISH will hold its earnings conference call at noon Eastern Time, the company said, .

Late last year, DISH Network agreed to pay a $210 million fine to the U.S. government to settle a long-running dispute linked to allegations that the company made millions of 'robocalls' to promote its services. 

DISH said that it "respectfully disagree with the underlying liability judgment", which was handed down in June of 2017, and insisted it maintains ""rigorous telemarketing compliance procedures and policies."