Dish Loses 116,000 Pay TV Subs in Third Quarter, Earnings Rise

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Charlie Ergen

The satellite TV company, led by Charlie Ergen, had lost 23,000 subs in the year-ago period.

Dish Network on Wednesday reported third-quarter earnings as it lost more pay TV subscribers than in the year-ago period.

The satellite TV company, led by Charlie Ergen, lost 116,000 net pay TV subscribers in the quarter to end it with more than 13.643 million. In the year-ago quarter, the company had lost 23,000 net subscribers, and in the second quarter of 2016, it had lost 281,000, its biggest quarterly drop ever.

Dish in its earnings report once again included subscribers for its Sling TV streaming service, but didn't detail how many of those it had recorded in the quarter or how many it had in total at the end of September.

Dish's earnings for the third quarter reached $307 million, or 64 cents per share, below Wall Street expectations, compared with $196 million, or 42 cents per share, in the year-ago period. Revenue edged up from $3.73 billion to $3.75 billion.

Dish lost approximately 20,000 net broadband subscribers in the third quarter, bringing its broadband subscriber base to approximately 593,000.

More to come...

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