Market Overview

DISH Network Soaring On Blowout Earnings, TIVO Settlement (DISH)

Shares of Dish Network (NASDAQ: DISH) are jumping more than 15% today, after the company announced better than expected earnings, as well as announcing it would pay $500 million to Tivo (NASDAQ: TIVO) to settle a lawsuit regarding DVR technology.

The company earned $1.22 per share on revenues of $3.22 billion, versus Wall Street estimates of 68 cents per share on revenues of $3.23 billion. Revenue rose 5.5%, as the company was able to raise prices. The Colorado-based company also said it added 58,000 subscribers this quarter, after having three quarters of losing subscribers.

Dish Network will pay $290 million to Tivo immediately, and along with EchoStar, will pay the rest of the $210 million to Tivo in installments until 2017, with Dish Network paying 95% of the amount.

DISH Network Corporation, through its subsidiaries, provides DISH Network subscription television services in the United States. The company operates the DISH Network television service, which provides a direct broadcast satellite subscription te

Posted-In: Earnings News

 

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