DISH Network Beats Q2 Estimates

DISH Network Corp DISH reported better-than-expected results for the second quarter on Wednesday. The Englewood, Colorado-based company posted quarterly net income of $324 million, or $0.70 per share, compared to $213 million, or $0.46 per share, in the year-ago period. Its total revenue climbed to $3.83 billion from $3.69 billion. However, analysts were expecting earnings of $0.45 per share on revenue of $3.79 billion. The average estimate among 4 Estimize users was for earnings of $0.48 per share and revenue of $3.8 billion. Subscriber-related revenue rose to $3.8 billion from $3.65 billion. In the quarter, the company activated around 638,000 gross new Pay-TV subscribers, versus around 656,000 gross new Pay-TV subscribers, in the year-ago quarter. Net Pay-TV subscribers shrank about 81,000 in the quarter, versus a loss of about 44,000 in the year-ago quarter. Dish closed the second quarter with 13.932 million Pay-TV subscribers, versus 14.053 million Pay-TV subscribers at the end of year-ago quarter. The company added around 4,000 net broadband subscribers in the quarter. Pay-TV ARPU increased to $87.91 for the quarter, from $84.15. Pay-TV subscriber churn rate expanded to 1.71 percent from 1.66 percent. DISH shares fell 0.29 percent to close at $65.43 yesterday.