UPDATE: Dish Q3 Profit Misses Street View

Dish Network

reported weaker-than-expected earnings for the third quarter. The Englewood, Colorado-based company posted quarterly net income of $145.5 million, or $0.31 per share, compared to $314.9 million, or $0.68 per share, in the year-ago period. Its revenue climbed to $3.68 billion from $3.51 billion. However, analysts were expecting earnings of $0.39 per share on revenue of $3.69 billion. Subscriber-related revenue climbed 5.3% to $3.65 billion from $3.46 billion. Pay-TV ARPU came in at $84.39, up from $80.98 in the year-ago period. Total pay-TV customers slipped by around 12,000 for the quarter. The company closed the quarter with 14.041 million pay-TV subscribers, versus 14.049 million pay-TV subscribers at the end of year-ago quarter. DISH added around 28,000 net broadband subscribers in the quarter. The company also added around 75,000 net broadband subscribers in the same period. Dish shares rose 0.25% to close at $63.81 yesterday.