DISH Network beats estimates after losing fewer subscribers in its second quarter
DISH Network Corporation (NASDAQ:DISH) announced better-than-expected second-quarter results, seeing subscriber losses slow down.
The satellite TV service reported earnings of US$0.83 per share on revenue of US$3.46bn compared with US$0.09 EPS on revenue of US$3.64bn in the previous year’s second quarter.
The Colorado-based company beat Wall Street estimates of US$0.71 EPS on revenue of $3.44bn.
Subscriber-related revenue came in at US$3.42bn, surpassing estimates of US$3.39bn.
READ: Dish 1Q earnings matched forecasts, but revenue declined
The surge of cord-cutting and the shift to online video streaming has put a dent in the company’s subscriber count, but losses have slowed down in the second quarter.
Net pay-TV subscriber loss clocked in at 151,000, compared with a decline of 196,000 in the previous second quarter.
The churn rate, or the number of subscribers leaving, fell to 1.46% compared with 1.83% last year.
Sling TV is the company’s answer to the rise of online viewing. It’s a streaming television service that allows users to watch live channels like ESPN and CNN for US$25 per month. The service saw its subscriber account increase to 41,000.
Shares of DISH were up more than 4% to US$31.10 in Friday pre-market trading.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/202210/dish-network-beats-estimates-after-losing-fewer-subscribers-in-its-second-quarter-202210.html
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