Existing users please login

 

Home / Markets / Industries / Entertainment

Dish Network Earnings Dip; Declares One-Time $2 Dividend

 
By Matt Egan
FOXBusiness
     

    Despite adding new subscribers, Dish Network (DISH), the second-largest U.S. satellite television provider, disclosed a steeper-than-expected 1.5% decline in third-quarter quarter revenue on Monday.

    However, Dish saw its shares climb in pre-market trading as the company declared a one-time dividend of $2 per share.

    Dish said it earned $81 million, or 18 cents a share, during the third quarter, down from a profit of $92 million, or 20 cents a share, in the same period a year ago. 

    Analysts were looking for EPS of 43 cents. The company’s revenue sank 1.5% last quarter to $2.89 billion, missing the Street’s view of $2.93 billion.

    Still, Dish said it added 241,000 net subscribers last quarter, bringing its total to 13.851 million subscribers.

    The DirecTV (DTV) rival said its one-time dividend will be payable on Dec. 2 to shareholders of record on Nov. 20.

    Shares of Dish, which have surged more than 70% year-to-date, jumped 4.5% to $19.15 ahead of Monday’s opening bell.