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DISH Q2 profit drops 90.6% YOY

DISH Network Corp. on Aug. 3 reported a 90.6% year-over-year drop in second-quarter net income attributable to the company to $40.0 million, or 9 cents per share, from net income of $424.0 million, or 91 cents per share.

The company said net income for the second quarter was negatively impacted by litigation expenses, net of taxes, of $280 million.

The second-quarter S&P Capital IQ consensus estimate for GAAP EPS was 71 cents.

Revenue for the most recent quarter was $3.64 billion, down 5.7% year over year from $3.86 billion.