Dish Network Tops Profit Views
July 21 2016 - 07:20AM
Dow Jones News
Dish Network Corp. reported much better-than-expected earnings
growth in the most recent quarter, though revenue grew less than
anticipated and it had lost subscribers.
During the period ended June 30, Dish added about 527,000 paid
subscribers, compared with about 638,000 in the year-ago quarter.
Net subscribers declined 281,000 in the second quarter, compared
with an 81,000-subscriber loss last year.
Over all, the company reported a profit of $410 million, or 88
cents a share, up from $324 million, or 70 cents, a year ago.
Revenue edged 0.3% higher to $3.84 billion.
Analysts polled by Thomson Reuters had anticipated 72 cents a
share on $3.85 billion in revenue.
The company closed the quarter with roughly 13.6 million pay-TV
subscribers, compared with 13.9 million at the end of the quarter
last year. The company includes subscriptions to its Sling TV
streaming service in its total pay-TV metrics.
Dish lost roughly 15,000 net broadband subscribers, bringing its
total broadband base to about 613,000.
Shares, inactive premarket, have declined 9.1% so far this
year.
Write to Anne Steele at Anne.Steele@wsj.com
(END) Dow Jones Newswires
July 21, 2016 07:05 ET (11:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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