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Dish Reports 2Q Profit

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(credit: CBS)

(credit: CBS)

ENGLEWOOD, Colo. (AP) — Satellite TV provider Dish Network Corp. reported a second-quarter profit on Wednesday after posting a loss in the same period a year ago. The company’s results missed analysts’ expectations.

The Englewood, Colorado-based company reported net income of $213.3 million, or 46 cents per share, compared with a loss of $11.1 million, or 2 cents per share, in the same quarter a year ago. The average estimate of analysts surveyed by Zacks Investment Research was for profit of 52 cents per share.

The company said revenue climbed 5.8 percent to $3.69 billion from $3.49 billion in the same quarter a year ago. The results matched Wall Street forecasts.

Dish Network shares have increased $4.23, or 7.3 percent, to $62.15 since the beginning of the year. The stock has climbed $17.14, or 38 percent, in the last 12 months.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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