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DISH Network (DISH) Q4 Earnings Top, Revenues Miss Estimates
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DISH Network Corp. reported mixed financial results in the fourth quarter of 2017. While the bottom line beat the Zacks Consensus Estimate, the top line lagged the same.
Quarterly net income came in at $1,385.5 million or $2.64 per share compared with $355.5 million or 73 cents in the year-ago quarter. Fourth quarter adjusted earnings per share of 57 cents were a penny higher than the Zacks Consensus Estimate.
Total revenues in the reported quarter were approximately $3,483.9 million, down 7.2% year over year lagging the Zacks Consensus Estimate of $3,546 million.
In 2017, segment-wise, subscriber-related revenues grossed $14,260.4 million, down 5.1% year over year. Equipment sales & other revenues totaled $131 million, down 26.6% year over year.
In 2017, operating expenses were a little over $12,823.610 million, down 0.5% year over year. Operating income was $1,567.8 million compared with $2,319.3 million in the year-ago quarter. EBITDA in 2017 was $2,423.1 million compared with $3,306.9 million in the prior-year quarter.
At the end of 2017, DISH Network had 13.242 million pay-TV subscribers, down 3.1% year over year. DISH TV subscribers were 11.03 million, down 9.4% year over year. Sling TV subscribers were 2.212 million, up 47.4% year over year. During 2017, DISH Network lost 0.995 million DISH TV subscribers but gained 0.711 million Sling TV Customers.
Pay-TV ARPU (average revenue per user) in 2017 was $86.43 compared with $88.66 in 2016. DISH TV churn rate in 2017 was 1.78% compared with 1.97% in 2016. In the first half of 2017, DISH Network generated $1,493.1 million of cash from operations compared with $1,591.7 million in the prior-year period. Free cash flow in the reported period was $828.3 million compared with $866.8 million in the year-ago period.
At the end of 2017, DISH Network had $1,980.7 million of cash and marketable securities and $15,134.4 million of outstanding debt on its balance sheet compared with $5,359.3 million and $16,478.9 million, respectively, at the end of 2016. In 2017, DISH Network generated $2,347.7 million of free cash compared with $2,240.2 million in 2016.
DISH Network Corporation Price, Consensus and EPS Surprise
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DISH Network (DISH) Q4 Earnings Top, Revenues Miss Estimates
DISH Network Corp. reported mixed financial results in the fourth quarter of 2017. While the bottom line beat the Zacks Consensus Estimate, the top line lagged the same.
Quarterly net income came in at $1,385.5 million or $2.64 per share compared with $355.5 million or 73 cents in the year-ago quarter. Fourth quarter adjusted earnings per share of 57 cents were a penny higher than the Zacks Consensus Estimate.
Total revenues in the reported quarter were approximately $3,483.9 million, down 7.2% year over year lagging the Zacks Consensus Estimate of $3,546 million.
In 2017, segment-wise, subscriber-related revenues grossed $14,260.4 million, down 5.1% year over year. Equipment sales & other revenues totaled $131 million, down 26.6% year over year.
In 2017, operating expenses were a little over $12,823.610 million, down 0.5% year over year. Operating income was $1,567.8 million compared with $2,319.3 million in the year-ago quarter. EBITDA in 2017 was $2,423.1 million compared with $3,306.9 million in the prior-year quarter.
At the end of 2017, DISH Network had 13.242 million pay-TV subscribers, down 3.1% year over year. DISH TV subscribers were 11.03 million, down 9.4% year over year. Sling TV subscribers were 2.212 million, up 47.4% year over year. During 2017, DISH Network lost 0.995 million DISH TV subscribers but gained 0.711 million Sling TV Customers.
Pay-TV ARPU (average revenue per user) in 2017 was $86.43 compared with $88.66 in 2016. DISH TV churn rate in 2017 was 1.78% compared with 1.97% in 2016. In the first half of 2017, DISH Network generated $1,493.1 million of cash from operations compared with $1,591.7 million in the prior-year period. Free cash flow in the reported period was $828.3 million compared with $866.8 million in the year-ago period.
At the end of 2017, DISH Network had $1,980.7 million of cash and marketable securities and $15,134.4 million of outstanding debt on its balance sheet compared with $5,359.3 million and $16,478.9 million, respectively, at the end of 2016. In 2017, DISH Network generated $2,347.7 million of free cash compared with $2,240.2 million in 2016.
DISH Network Corporation Price, Consensus and EPS Surprise
DISH Network Corporation Price, Consensus and EPS Surprise | DISH Network Corporation Quote
DISH Network faces intense competition in the pay-TV market from rival players like AT&T Inc. (T - Free Report) , Comcast Corp. (CMCSA - Free Report) and Charter Communications Inc. (CHTR - Free Report) . The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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