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Dish Network Adds Pay-TV Customers, Defying Expectations

Tuesday, 12 Nov 2013 08:07 AM

Dish Network Corp. posted quarterly results that beat Wall Street estimates as it added 35,000 pay-TV subscribers, far exceeding expectations.

Wall Street analysts had expected Dish to lose 39,000 subscribers in the third quarter, according to market research firm StreetAccount.

The company also added 75,000 broadband subscribers in the quarter, well above Wall Street's estimate of 62,000.

Dish has been trying to diversify beyond its core pay-TV business, which is facing competition from cable, telecom and internet video providers.

Dish lost 78,000 customers in the second quarter, after gaining 36,000 in the first three months of the year.

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One big question about Dish's future is co-founder Charlie Ergen's plans for the roughly $3 billion worth of wireless spectrum that he bought in the last few years.

The company made no mention of Ergen's plans in its earnings statement on Tuesday.

Pay-TV average revenue per unit (ARPU) rose to $81.05 from $76.99.

Dish reported net income of $315 million, or 68 cents per share, in the quarter ended Sept. 30, compared with a net loss of $158 million, or 35 cents per share, a year earlier.

In the year-earlier period, net income was reduced by $453 million due to a lawsuit settlement with Voom, a now-defunct network owned by AMC Networks Inc. and AMC's former parent Cablevision Systems Corp.

Revenue rose 2 percent to $3.60 billion in the latest quarter.

Analysts had expected the company to earn 43 cents per share on revenue of $3.58 billion, according to Thomson Reuters I/B/E/S.

Dish shares closed at $47.50 on the Nasdaq on Monday. The shares have risen about 30 percent since the start of the year.

© 2017 Thomson/Reuters. All rights reserved.

   
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Dish Network posted quarterly results that beat Wall Street estimates as it added 35,000 pay-TV subscribers, far exceeding expectations.
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2013-07-12
Tuesday, 12 Nov 2013 08:07 AM
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