Dish Network Profit Beat Expectations But Sales Missed As Subscribers Dropped

By Tomi Kilgore Markets MarketWatch Pulse

Dish Network Corp. reported first-quarter net earnings that declined to $376 million, or 76 cents a share, from $400 million, or 86 cents a share, in the same period a year ago. That beat the FactSet earnings-per-share consensus of 70 cents. Revenue slipped to $3.68 billion fro $3.83 billion, missing the FactSet consensus of $3.76 billion, as subscriber-related revenue fell more than expected. Net Pay-TV subscribers declined 143,000, compared with a decline of 23,000 a year ago. Net broadband subscribers fell by 25,000 to 555,000. The stock, which was still inactive in premarket trade, has run up 11% year to date, while the S&P 500 has gained 6.5%.

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