Dish Network Lost 10,000 Subs in Second Quarter
Satellite TV giant Dish Network on Thursday said it lost approximately 10,000 net subscribers in the second quarter, well below the 135,000 it had lost in the year-ago period.
In a regulatory filing tied to a debt offering, the company, led by chairman Charlie Ergen, said it added 665,000 gross new subscribers. It also reported average monthly churn of 1.6 percent. It won't report full quarterly results until next month.
Wells Fargo analyst Marci Ryvicker had projected gross adds of 577,000 and a net subscriber decline of 119,000.
"We feel much better than expected sub numbers should ease investor fears about Dish's core business, which many were nervous about heading into earnings," she wrote in a report.
She reiterated her "outperform" rating on the company's stock.