DISH Network (DISH) Q4 Earnings Top, Revenues Miss Estimates
Zacks Investment Research | Feb 20, 2018 09:32PM ET
DISH Network Corp. (NASDAQ:DISH) 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
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.