DISH Network 1Q Profit rises 10.8%, Tops Estimations

DISH Network Corp

announced 10.8% increase in net income to $389 million for the first quarter from $351 million recorded in the year-ago quarter. Its earnings also rose 10.5% to $0.84 a share from $0.76 a share and came in 22 cents a share more than the analysts' expectations of $0.62 a share. DISH Network said that its revenue advanced 1.88% to $3.79 billion from $3.72 billion in the previous year quarter. Analysts expected $3.8 billion revenue. The company said that its Subscriber-related revenue grew to $3.78 billion from $3.7 billion in the comparable period. The company disclosed that it activated approximately 657,000 gross new Pay-TV subscribers in the first quarter versus approximately 723,000 in the prior year period. Net Pay-TV subscribers fell about 23,000 in the first quarter, compared to a gain of about 35,000 in the first quarter of the last year. It closed the quarter with 13.874 million Pay-TV subscribers, down from 14.013 million in the previous year quarter. DISH Network said that its Pay-TV ARPU advanced to $87.94 from $85.73 while Pay-TV subscriber churn rate was 1.63 percent compared to 1.64 percent in the comparable quarter. The company added about 5,000 net broadband subscribers, bringing its broadband subscriber base to about 628,000. On Tuesday, the stock closed higher by 1.76%.