Dish Network said it lost 23,000 pay-TV subscribers in the quarter, including both satellite-TV customers and those of its online Sling service, compared with a loss of 12,000 in the year-earlier period.
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Dish also said that the number of gross new subscribers is up – 751,000 compared to last year’s 691,000.
Dish Network reported Dollars 3.73 billion of revenue in its third quarter, compared to USD 3.68 billion in the third quarter of 2014. Analysts had been looking for earnings of 38 cents per share and $3.79 billion in revenue.
User defectors increased to 1.86% of the subscriber base of the company compared with analysts’ estimates of 1.69%. Last month, Dish forfeited $3.3 billion of those airwaves, and now faces a January deadline to file an application with the Federal Communications Commission to participate in another auction.
Initially, analyst firm MoffettNathanson figured the split came out to about 47,000 subscribers lost from Dish’s satellite TV business and 24,000 subscribers added to its Sling TV product.
Sotheby’s posted net losses of 26 cents per share or $17.9 million, which were the same as the adjusted losses. After surveying 9 different analysts, we established an average estimate of $ 0.46 earnings per share (EPS) for NASDAQ:DISH.
WhiteWave Foods Co (WWAV) soared 4.2% or $1.72 to $43.19 after the packaged food and beverage producer reported total revenues in the third-quarter ending in September soared 17% from a year ago to $1 billion. At the end of the quarter under review, DISH had 608,000 broadband subscribers in comparison with 553,000 at the end of the prior-year quarter.
Internet TV is not saving the day for Dish Network, which is hemorrhaging traditional pay-TV customers at a seemingly unprecedented rate. Pay-TV average subscriber acquisition cost was $736 against $861 in the year-ago quarter.
The company closed Q3-2015 with 13.909 million Pay-TV subscribers, compared to 14.041 million Pay-TV subscribers at the end Q3-2014.
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Dish shares had dropped 13% this year through Friday, also amid disappointments including shelved talks to merge with No. 3 wireless carrier T-Mobile. The Company offers a range of local and national programming, featuring more national and local high definition (HD) channels than pay-TV providers.
