Dish loses subs in Q2

Stock falls as satellite TV firm loses 19,000 net subs

NEW YORK - Dish Network on Monday said it lost 19,000 net subscribers in the second quarter, and its stock tanked.

As of 10:40am EST, Dish shares were down 9.4% at $18.89.

But the decline helped reduce the cost of installations for the satellite TV giant, nearly quadrupling its quarterly profit to $257 million. Revenue rose 9% to nearly $3.2 billion.

The subscriber decline comes after several consecutive quarters of growth. Dish targets lower-end subscribers who are more price-conscious. According to analysts, some of them have been hit hard by the recession. Dish ended the quarter at 14.3 million users.

Competitor DirecTV last week had reported a U.S. subscriber gain of 100,000.
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