Mobileye and DISH Network released their latest earnings reports before opening bell this morning. Mobileye reported adjusted earnings of 22 cents per share on $104.6 million in revenue. Analysts had been looking for 20 cents per share and $96.4 million in sales.
DISH Network reported net earnings of 70 cents per share on $3.72 billion in revenue, compared to the consensus estimates of 67 cents per share and $3.76 billion in revenue. In the same quarter the year previously, the satellite TV provider reported $3.78 billion in revenue and losses of 27 cents per share.
Mobileye shares rise on earnings beat
Mobileye’s GAAP earnings per share rose to 14 cents from 8 cents in the same quarter a year previously. GAAP net income rose to $32.6 million from $18.8 million in the year-ago quarter. OEM revenue rose to $77.5 million from $61.2 million in the year-ago quarter. Aftermarket revenue more than doubled to $27 million from $10.6 million in the same quarter a year ago.
“The fourth quarter marked a strong finish to 2016, which resulted in our ability to exceed revenue and profitability expectations for the full year,” Mobileye co-founder, President and CEO Ziv Aviram said in a statement. “Strategically, we maintained our leadership position and extended visibility for Advanced Driver Assistance System technology with 12 new program wins across 11 automakers.”
Mobileye expects further aftermarket growth in 2017, The company’s stock jumped by as much as 2.99% to $47.50 in premarket trades this morning.
DISH Network shares rise
DISH Network activated about 694,000 gross new Pay-TV subscribers during the fourth quarter, marking a slight increase from the year-ago quarter’s 661,000 activations. Net Pay-TV adds amounted to 28,000 in the fourth quarter, while DISH lost 12,000 net customers in the year-ago quarter. DISH Network ended the fourth quarter with about 13.67 million Pay-TV subscribers, a slight decline from the 13.897 million it had at the end of the fourth quarter of 2015.
Full-year revenue ticked higher to $15.09 billion from $15.07 billion in 2015. Pay-TV average revenue per user rose to $88.66 during 2016 from $86.79 in 2015.
DISH Network shares rose by as much as 2.67% to $64.50 in premarket trades this morning.