Reuters

(Reuters)

Dish Network Revenue Misses on Subscriber Losses

Industries Reuters

U.S. satellite TV provider Dish Network Corp reported quarterly revenue below analysts' estimates as it lost more subscribers than expected in its core pay-TV business.

Continue Reading Below

The company lost 23,000 net pay-TV subscribers in the quarter, more than the analysts' average estimate of a loss of 13,100 customers, according to market research firm FactSet StreetAccount.

The pay-TV operator had gained about 35,000 subscribers in the year-earlier period.

Dish, which is grappling with subscriber losses like other pay-TV providers, has been increasing rates and trying to lure young viewers to its cheaper $20-per-month Sling TV online streaming service.

Average revenue per user in the company's pay-TV business rose to $87.94 from $85.73.

Net income attributable to Dish rose to 389 million, or 84 cents per share, for the first quarter ended March 31 from $351 million, or 76 cents per share, a year earlier.

Continue Reading Below

Revenue rose to $3.79 billion from $3.72 billion last year.

Analysts on an average expected earnings of 62 cents per share and revenue of $3.8 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Supantha Mukherjee in Bengaluru; Editing by Anil D'Silva and Shounak Dasgupta)