Dish Network Swings to Profit
February 22 2017 - 7:33AM
Dow Jones News
By Imani Moise
Dish Network Corp. swung to a profit in the fourth quarter as
the company added and retained more subscribers.
The satellite-television provider added about 694,000 gross paid
subscribers during the quarter ended in December, compared with
about 661,000 gross in the year-ago quarter. Net subscribers
increased by 28,000 during the quarter, compared with a loss of
12,000 subscribers last year.
Pay-TV subscribers include customers of Dish's Sling branded
service which helps lure cord cutters who prefer internet-based
streaming services over traditional cable back to the company.
Pay-TV subscriber churn, the rate at which subscribers leave the
service, rose to 1.71% for the year compared with from 1.59% in
2015 because of marketing and discounts from competitors as well as
cord-cutting.
Over all Dish reported a profit of $342.7 million, or 70 cents a
share, compared with a loss of $125.3 million, or 27 cents a year
earlier.
Revenue dropped 1.6% to $3.72 billion.
Analysts polled by Thomson Reuters had forecast earnings of 66
cents on $3.76 billion in revenue.
Shares, inactive premarket, closed at $62.82 and have risen 12%
over the past three months.
Write to Imani Moise at imani.moise@wsj.com
(END) Dow Jones Newswires
February 22, 2017 07:18 ET (12:18 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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