Dish Network misses estimates, loss of subscribers

Published on: 03 Aug, 2017

Dish Network (NASDAQ:DISH) released its second quarter earnings on Thursday, missing analysts estimates, but the satellite TV operator was able to limit its subscriber losses.

The company reported a revenue of $3.64 billion for the quarter ending back on June 30th, compared to a revenue of $3.86 billion back in 2016. Subscriber-related revenue was $3.61 billion, compared to $3.83 billion last year.

Net income attributable to DISH Network totaled $40 million for the second quarter. Dish says it was negatively impacted by litigation expenses, net of related taxes, of $280 million.

Analysts consensus’ earnings estimate called for an adjusted EPS of 76 cents and the company reported adjusted EPS was 69 cents.

Dish lost approximately 196,000 Pay-TV subscribers. The loss of subscribers was still able to come under estimates, which projected a loss of 256,000.

The beat on subscribers was likely driven by growth of lower-value Sling users rather than improved satellite subscriber losses, said Jonathan Chaplin, an analyst at New Street Research.

Back in May, Chief Executive Charlie Ergen said he was open to other partnerships. Analysts predict maybe partnerships with companies such as Verizon, T-Mobile, or even Amazon.

Ergen has said the company plans to build a low-cost wireless network by 2020 to meet the U.S. government's deadline for deploying some of Dish’s spectrum, and Amazon could be a customer or investor, according to Reuters.

The company closed the second quarter with 13.332 million Pay-TV subscribers, compared to 13.593 million Pay-TV subscribers at the end of second quarter 2016.


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