Why Dish Network Is Plunging Today
Shares of cable television name Dish Network (NASDAQ: DISH) are down 12% as of 12:26 p.m. ET Friday, according to data from S&P Global Market Intelligence, following the release of the company's first-quarter revenue and earnings figures that both fell short of estimates.
Analysts knew Dish Network was facing a brisk headwind. They simply underestimated it.
For the three-month stretch ending in March, the satellite-delivered cable TV service provider turned $4.33 billion worth of revenue into per-share earnings of $0.68, down from $4.5 billion and $0.99 per share in the same quarter a year earlier and missing analysts' expectations for sales of $4.38 billion and earnings of $0.69 per share.
Source Fool.com
