Following the first quarter earnings announcement on May 3, a mixed sentiment was palpable among the analysts covering DISH Network Corp. (DISH) with regard to estimate revision. We believe that the mixed sentiment stems from stiff competition that exists in the satellite and cable market. First Quarter Highlights Quarterly GAAP net income was $360.31 million or 80 cents per share compared with $549.4 million or $1.22 per share in the year-ago quarter. First-quarter 2012 EPS of 80 cents was ahead of the Zacks Consensus Estimate of 70 cents. Quarterly total revenue increased 11.1% to $3.58 billion from $3.2 billion in the year-ago quarter. This was mainly due to an increase in subscriber related revenue and contribution from Blockbuster. However, first quarter revenue fell below the Zacks Consensus Estimate of $3.63
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