Dish Network Q3 profit misses on subscriber losses

By @ibtimes on

Satellite television provider Dish Network Corp's third-quarter profit missed estimates on deeper-than-anticipated subscriber losses as customers canceled their service or switched to rivals.

The second-largest U.S. satellite TV provider lost 111,000 subscribers in the quarter. Kaufman Bros analyst Todd Mitchell had forecast a net loss of 25,000 subscribers.

It posted earnings of $319 million, or 71 cents per share, which missed Wall Street expectations of 73 cents, according to Thomson Reuters I/B/E/S.

It generated revenue of $3.6 billion, slightly below analysts' expectations of $3.64 billion.

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Saumyadeb Chakrabarty)

(This story corrects net income figure in paragraph 3)

Join the Discussion