U.S. satellite TV provider Dish Network Corp reported a better-than-expected profit as it unexpectedly added, instead of losing, pay-TV subscribers in the fourth quarter.
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Dish said it added about 28,000 subscribers, including at its satellite TV and Sling TV streaming services, on a net basis in the three months ended Dec. 31.
Analysts on average had estimated Dish would lose 87,000 subscribers, according to market research firm FactSet StreetAccount.
Net income attributable to Dish was $343 million, or 70 cents per share, in the quarter, compared with a loss of $125 million, or 27 cents per share, a year earlier.
The company's revenue fell to $3.72 billion from $3.78 billion.
Analysts on an average were expecting to earn 66 cents per share on revenue of $3.76 billion, according to Thomson Reuters I/B/E/S.
Dish launched the low-priced Sling TV service in 2015, offering a slim bundle of channels, including live programming from networks such as ESPN.
The move was aimed at fighting "cord-cutting," a trend where customers move away from traditional cable TV to streaming services such as Netflix Inc.
Dish, which raised its video service rates in January 2016, posted a slight rise in full-year revenue and average revenue per pay-TV user.
(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Savio D'Souza)