Brocker.Org: REFILE-Dish revenue misses estimates, loses more subscribers than expected – Nasdaq

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Reuters

(Removes extraneous zero in net pay-TV subscriber figure in
fourth line to read 143,000, not 143,0000.)
    By Anjali Athavaley and Amy Caren DanielMay 1 (Reuters) - Dish Network Corp  said on Monday
its quarterly revenue missed analyst estimates as the U.S.
satellite TV provider lost more subscribers than expected.
    The company said it lost about 143,000 net pay-TV
subscribers in its first quarter through March 31, after losing
23,000 a year earlier. The number is double analysts'
expectation of a loss of 72,000 subscribers, according to
financial data and analytics firm FactSet.
    Dish's results and post-earnings conference call are being
closely observed by analysts and investors as it is considered
an acquisition target, particularly for U.S. wireless carriers
such as Verizon Communications Inc  and T-Mobile US Inc
.
    In recent years, the company has been buying up spectrum, or
radio frequencies that carry the growing amounts of data flowing
through devices.
    The U.S. Federal Communications Commission barred merger
talks among telecommunications companies for over a year as it
conducted a $19.8 billion auction of airwaves from broadcasters
for wireless use. Dish was the second-largest winner in the
auction, bidding $6.2 billion to increase its spectrum holdings.
[nL1N1HL196]
    Companies taking part in the auction were restrained by a
quiet period that ended last week when downpayments were due
from winners. Analysts and investors now expect them to engage
in merger talks.
    Dish's pay-TV subscriptions include both satellite as well
as Sling TV, the company's online streaming service introduced
in 2015 to lure customers who were dropping pay-TV packages in
favor of cheaper options such as Netflix Inc .
    Churn, or the rate of customer defections among pay-TV
subscribers, rose to 1.69 percent in the quarter, from 1.63
percent a year earlier.
    Net income attributable to Dish fell to $376 million, or 76
cents a share, in the quarter, from $400 million, or 86 cents a
share, a year earlier. [nBwSvT04a]
    Revenue fell 3.9 pct to $3.68 billion from $3.83 billion.
    Analysts, on average, were expecting earnings of 69 cents
per share on revenue of $3.78 billion, according to Thomson
Reuters I/B/E/S.
    Shares of Dish have surged more than 26 percent in the past
12 months.

 (Additional reporting by Amy Caren Daniel and Laharee
Chatterjee in Bengaluru; Editing by Anil D'Silva and Bernadette
Baum)
 ((Anjali.athavaley@thomsonreuters.com; 646-223-4416))

Keywords: DISH NETWORK RESULTS/ (CORRECTED, UPDATE 2)






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