DISH Network Corp (NASDAQ:DISH) released its earnings number for the three months through September this morning before the market opened on Wall Street. The company showed earnings of 68 cents per share for the third quarter of the year on revenue of $3.6 billion. Shares in the company were up in pre-market trading this morning.
In the run-up to the release of this report analysts following the company were looking for earnings per share of 43 cents. Revenue was expected to come in at $3.58 billion by consensus. The consensus estimates were gathered from a Thomson Reuters survey of analysts following DISH Network Corp (NASDAQ:DISH).
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Dish Network earnings
In the same three months of 2012 DISH Network Corp (NASDAQ:DISH) managed to lose 35 cents per share. That loss included a couple of big one-time costs. Revenue in the third quarter of 2012 came in at $3.5 billion. Dish said that it added 75,000 broadband subscribers in the three months through September.
The company added around 35,000 TV subscribers in the period according to this mourning’s release. The addition of subscribers is a great indicator for Dish. The company has lost a significant amount of subscribers as the pay-TV market becomes saturated and internet video services begin to squeeze out the operators of traditional media.
Dish Network performance
Since the start of 2013 shares in DISH Network Corp (NASDAQ:DISH) have managed to gain a large amount of value. Since January 1 the company’s shares have gained more than 30%. In the same period the S&P 500 has gained just more than 24%. The company’s stock is valued at more than 85 times 2012 earnings. That means a large amount of growth has been priced into the company’s stock.
Executive from DISH Network Corp (NASDAQ:DISH) will host an earnings call at 12:00 PM EST in order to discuss this morning’s earnings report. Investors and analysts will be looking to hear about the company’s guidance for the fourth quarter of the year, and the company’s strategy on the rising competition in the pay-TV area.