DISH Network Corp (NASDAQ:DISH) Makes Big Noise About Satellite Broadband Venture
Dallas, Texas, 03/10/2014 (ustrademedia) – DISH Network Corp (NASDAQ:DISH) may have made it past some high estimates for the fourth quarter – posting 3.2% higher than industry estimates.
However, it appears that DISH may have more to celebrate. The double winner of healthy financial conditions for the previous quarter, followed by the announcement of a new business venture- a Satellite Broadband Venture has led to higher investor density.
Firstly, a look at the fourth quarter results for 2013.
Fourth quarter results
DISH Network Corp (NASDAQ:DISH) has over the past quarter seen its sales spiral downwards by 14% in comparison to last quarter, reporting $3.1 billion. However, the earnings for this service provider rose higher by 37%, reaching $0.62 per share. Estimates by various analysts had indicated that the earnings would be priced $0.41 per share, while sales would be in the region of $3.6 billion.
DISH Network Corp (NASDAQ:DISH) has in the past quarter discontinued its video on order as well as the video stores division – Blockbuster.
Additionally, DISH has recorded 14,057 million viewers with paid subscriptions for its television series. Overall increase in the number of subscribers was regarded as 8,000, for the fourth quarter. Therefore, the overall gain in the number of subscribers for 2013 was one thousand. The total increase in new accounts is 2.7 million, which also saw a 1.58% increase in subscribers.
The network has reported in its filing, that it’s other corporate concern, Echo star will now receive technical support with five of its satellites carrying various broadband services. This entire services support will now allow DISH to earn higher as it will involve $11 million in cash payments. Additionally, EchoStar will also offer DISH a stock stake which is substantial- nearly 80% of one of its segment’s residential satellite broadband operations. Considering the fact that it is one of the fast growing businesses for the company, DISH does have an excellent upside to watch for in the current fiscal.