Dish Network Corp.'s (NASDAQ:DISH) third-quarter earnings more than tripled despite subscriber losses while its former unit EchoStar Corp. reported that its profit plunged 98% on prior-year unrealized investment gains.
Dish (DISH), which targets lower-end customers who have been hit by the economic downturn, have suddenly revived with amazing gains from the market.
Dish Network Corp. (DISH), the second- largest U.S. satellite-television provider, said third-quarter profit more than tripled, beating analysts’ estimates.
Net income rose to $245 million, or 55 cents a share, from $81 million, or 18 cents, a year earlier, Englewood, Colorado- based Dish said in a statement today. Analysts in a Bloomberg survey projected 44 cents on average.
Comcast Corp., the largest U.S. cable operator, lost 275,000 basic video subscribers in the quarter, while DirecTV added 174,000 U.S. customers. Cable operators have been thought to have a slight edge on the satellite providers in that they can offer TV, Internet and phone in one package.
Dish (DISH) rose 4 cents to $20.69 yesterday in Nasdaq Stock Market trading. The shares are little changed this year.
Dish (DISH) is poised to move up in the coming days and one must be on the lookout for their movements.
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Disclosure: "No Positions"