UPDATE: Dish Posts Higher Q4 Earnings

reported a rise in its earnings for the fourth quarter. Net income attributable to the company came in at $409.9 million, or $0.88 per share, up from $288 million, or $0.63 per share, in the year-ago period. Its revenue climbed 4% to $3.68 billion. However, analysts were expecting a profit of $0.43 per share on revenue of $3.7 billion. For the full year, the company activated around 2.601 million gross new Pay-TV subscribers, versus around 2.666 million in 2013. Pay-TV average monthly subscriber churn rose to 1.59% from 1.58% in 2013. The company added about 141,000 net broadband subscribers in 2014. In the fourth quarter, Dish lost around 63,000 pay-TV subscribers, versus an addition of 8,000 subscribers, a year earlier. The company also announced the retirement of its Chief Executive Joe Clayton, effective March 31. DISH's co-founder and Chairman Charles W. Ergen will succeed Clayton as President and CEO. Dish shares rose 0.97% to close at $78.31 on Friday.