Dish Network tops earnings estimates but Pay-TV and wireless subscribers fall

Dish Network Corp. said Thursday it had net income of $630 million, or 99 cents a share, in the first quarter, up from $73 million, or 13 cents a share, in the year-earlier period. Revenue rose to $4.50 billion from $3.22 billion a year ago. The FactSet consensus was for EPS of 83 cents and revenue of $4.49 billion. The company’s net Pay-TV subscribers fell by 230,000, after declining by 413,000 in the year-earlier quarter. Dish ended the quarter with 11.06 million Pay-TV subscribers, including 8.69 million Dish TV subscribers and 2.37 million Sling TV subscribers. Retail wireless net subscribers fell by abut 161,000 in the quarter, compared with a decrease of 353,000 in the fourth quarter. The company closed the quarter with 8.90 million retail wireless subscribers. Shares were not yet active premarket, but have gained 28.6% in the year to date, while the S&P 500 has gained 11.4%.

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