Dish Adds Subs in First Quarter, Earnings Drop

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Dish Network chairman Charlie Ergen

UPDATED: The satellite TV giant, led by chairman Charlie Ergen, reported higher quarterly revenue.

Dish Network on Thursday reported lower first-quarter earnings as it added pay TV and broadband subscribers and grew revenue. 

The satellite TV giant, led by chairman Charlie Ergen and CEO Joe Clayton, added 40,000 net new pay TV subscribers in the latest period, compared with 36,000 in the year-ago period. It ended March with a total of 14.097 million TV subscribers.

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The company also grew its broadband customer base by 53,000 to about 489,000. 

First-quarter earnings of $176 million, compared to $216 million in the first quarter of 2013, came in below Wall Street expectations amid higher costs and expenses that were only partially offset by higher prices.

Dish's quarterly revenue rose 6.2 percent to $3.59 billion from $3.38 billion.

Twitter: @georgszalai