DISH Network Corp. (DISH – Analyst Report) declared strong financial results in the second quarter of 2015 wherein both the top and the bottom line outpaced the Zacks Consensus Estimate.
Quarterly net income came in at $324.4 million or 70 cents per share compared with $213.3 million or 46 cents in the year-ago quarter. Earnings per share of 70 cents steered past the Zacks Consensus Estimate of 46 cents.
Dish Network Corporation – Earnings Surprise | FindTheBest
Quarterly total revenue stood at approximately $3,832.4 million, up 3.9% year over year surpassing the Zacks Consensus Estimate of $3,788 million. Segment-wise, subscriber-related revenues grossed $3,801.4 million in the second quarter, up 4.3% from the prior-year quarter.
Equipment and merchandise sales & other revenues totaled $17.6 million, down 33.2% from the last-year quarter. Equipment sales, services and other revenues from EchoStar were $13.5 million, down 19.6% from the year-ago quarter.
Second-quarter 2015 operating expenses were $3,298.4 million, up 2% year over year. Operating profit was $534 million compared with $454.7 million in the year-ago quarter. EBITDA at the end of the second quarter stood at $924.4 million against $741.7 million in the year-ago quarter.
At the end of the second quarter of 2015, DISH had approximately 13.932 million pay-TV subscribers compared with 14.053 million at the end of the second quarter of 2014. Further, the company added 4,000 broadband subscribers in the reported quarter compared with 36,000 in the same quarter last year. At the end of the quarter under review, DISH had 595,000 broadband subscribers in comparison with 525,000 at the end of the prior-year quarter.
Average monthly subscriber churn rate in the second quarter stood at 1.71% compared with 1.66% in the prior-year quarter. Average revenue per user was $87.91 against $84.15 in the year-ago quarter. Average subscriber acquisition cost in the reported quarter stood at $767 against $846 a year ago quarter.
