August 24, 2019

Dish profit down 34 pct, but adds subscribers

ENGLEWOOD, Colo. (AP) — Satellite TV supplier Dish Network Corp. said Monday that it added subscribers within the initial quarter, however web income dropped thirty four p.c and revenue growth fell in need of Wall Street expectations.

Shares fell $ one.25, or four p.c, to $ 30.07 in morning trading.

The company’s profit dropped largely as a result of the year-ago amount got a lift from Dish settling a patent lawsuit with TiVo Inc.

Dish Network, primarily based in Englewood, Colo., is attempting to expand beyond TV into net access, video and different services, each for homes and on mobile devices. Last year, it bought Blockbuster out of bankruptcy.

The company said it added 104,000 web subscribers, ending the January-March quarter with regarding fourteen.1 million subscribers. A year ago, it added fifty eight,000 subscribers.

Net income within the January-March quarter was $ 360.3 million, down from $ 549.4 million a year ago. On a per-share basis, earnings fell to eighty cents from $ one.22, however that beat the seventy one cents that analysts polled by FactSet had been expecting.

Revenue rose eleven p.c to $ three.58 billion from $ three.22 billion. Still, that was slightly below analysts’ expectations of $ three.62 billion.

(Copyright 2012 Associated Press. All Rights Reserved. This material might not be revealed, broadcast, rewritten, or redistributed.)