DISH Network Corp. DISH announced better-than-expected results for the second quarter. Its net income advanced 26.5 percent despite revenue growing modestly by 0.3 percent.
DISH Network reported net income attributable to its shareholders of $410 million, up 26.5 percent from $324 million in the year-ago quarter. Similarly, earnings per share grew 25.7 percent to $0.88 from $0.70 in the same period last year. Street analysts estimated earnings of $0.72 a share.
Its revenue totaled $3.84 billion for the quarter compared to $3.83 billion in the previous year quarter. Subscriber-related revenue grew to $3.83 billion from $3.80 billion in the comparable period. Analysts predicted the company to generate $3.85 billion revenue.
DISH said it closed the quarter with 13.593 million Pay-TV subscribers, down from 13.932 million Pay-TV subscribers at the end of second quarter prior year. It lost about 15,000 net broadband subscribers in the June quarter and that brought its subscriber base to about 613,000.
In pre-market trading on Thursday, the stock traded 2.73 percent higher.
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