Dish Networks (NASDAQ: DISH) appeared to be paling in its first-quarter figures, compared to the same period last year.
The satellite TV company earned 76 cents per share for its latest quarter, seven cents above estimates. However, revenue was below forecasts, and the company also reported that broadband and net pay-TV subscribers declined.
The Engelwood, Colorado-based company reported revenue totaling $3.68 billion for the quarter ending March 31, 2017, compared to $3.83 billion for the corresponding period in 2016.
Reports also have subscriber-related revenue for the quarter totaling $3.64 billion, compared to $3.78 billion in subscriber-related revenue for the year-ago period.
In the first three months of calendar 2017, DISH completed a transaction with EchoStar Corporation that transferred certain EchoStar assets and operations to DISH in exchange for DISH's 80% economic interest in the Hughes Retail Group that was held in the form of a tracking stock.
However, in that same quarter, DISH activated approximately 547,000 gross new Pay-TV subscribers, a sizable letdown from the 657,000 gross new Pay-TV subscribers in the prior year’s first quarter.
DISH lost approximately 25,000 net broadband subscribers in the first quarter, bringing its broadband subscriber base to approximately 555,000.
Dish’s pay-TV average revenue per customer for the first quarter was $86.55 per month, down from $87.94 a year earlier. Pay-TV subscriber churn rate was 1.69% versus 1.63% for first quarter 2016.
As to whether the lower numbers would filter into the company’s initial stock price on Monday, DISH showed a tumble of $1.61, or 2.5% to $62.83
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