Dish reports 2Q profit

Published on NewsOK Modified: August 6, 2014 at 8:32 am •  Published: August 6, 2014
Advertisement
;

ENGLEWOOD, Colo. (AP) — Satellite TV provider Dish Network Corp. reported a second-quarter profit on Wednesday after posting a loss in the same period a year ago. The company's results missed analysts' expectations.

The Englewood, Colorado-based company reported net income of $213.3 million, or 46 cents per share, compared with a loss of $11.1 million, or 2 cents per share, in the same quarter a year ago. The average estimate of analysts surveyed by Zacks Investment Research was for profit of 52 cents per share.

The company said revenue climbed 5.8 percent to $3.69 billion from $3.49 billion in the same quarter a year ago. The results matched Wall Street forecasts.

Dish Network shares have increased $4.23, or 7.3 percent, to $62.15 since the beginning of the year. The stock has climbed $17.14, or 38 percent, in the last 12 months.