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Media

DISH & EchoStar Confuse On Earnings (DISH, SATS)

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By Douglas A. McIntyre Updated Published
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DISH Network Corporation (NASDAQ: DISH) and former partner EchoStar Corp. (NASDAQ: SATS) have both reported earnings this morning.

DISH (DISH) earned $0.48 EPS on a 1% decline in revenues to $2.92 billion.  This is under estimates of $0.49 EPS and $2.96 billion in revenue, but the miss here is so close that in today’s market it might be considered a win.  DISH also lost 102,000 net subscribers by its own count.

EchoStar Corp. (SATS) is where this gets convoluted.  It posted a rather large loss at -$7.73 EPS on $496 million in revenue.  $247 million of the loss was a goodwill write down of $247 million for the purchase of Sling Media and $216 million in investment losses.  We do not have enough estimates on this one for it to really count, but consensus were about $563.3 million.

Neither stock has traded this morning.

Jon C. Ogg

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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