{"id":9883,"date":"2017-08-05T15:06:38","date_gmt":"2017-08-05T15:06:38","guid":{"rendered":"http:\/\/dominiclevent.com\/blog\/?p=9883"},"modified":"2019-04-17T17:17:11","modified_gmt":"2019-04-17T17:17:11","slug":"dish-network-profit-plunges-90-percent-on-litigation-expenses","status":"publish","type":"post","link":"https:\/\/dominiclevent.com\/blog\/dish-network-profit-plunges-90-percent-on-litigation-expenses\/","title":{"rendered":"Dish Network profit plunges 90 percent on litigation expenses"},"content":{"rendered":"


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(Reuters) – Dish Network Corp (DISH.O<\/a><\/span>) on Thursday reported a quarterly profit that missed analysts’ estimates, but the company lost fewer subscribers than expected. <\/p>\n

The company said it lost about 196,000 net pay-TV subscribers in the second quarter ended June 30. The number includes subscribers to both its satellite TV and Sling TV services. <\/p>\n

The loss came in below analysts’ average expectation of 256,000 subscribers,\u00a0according to financial data and analytics firm FactSet. <\/p>\n

Net income attributable to Dish plunged 90 percent to $40 million or 9 cents per share in the quarter, hurt by litigation expenses, net of taxes, of $280 million. <\/p>\n

Excluding one-time items, Dish earned 69 cents per share, missing analysts’ average estimate of 75 cents, according to Thomson Reuters I\/B\/E\/S. <\/p>\n

Dish, like other pay-TV providers, is facing stiff competition from video streaming services such as Netflix, Hulu and HBO Live, as more viewers prefer to go online for their entertainment. <\/p>\n

In 2015, Dish launched its own streaming service, Sling TV, to attract younger viewers, who are increasingly shifting away from traditional television services. <\/p>\n

Dish has been buying up wireless airwaves, or spectrum, in recent years as its satellite business comes under pressure. In April, the company was the second-largest winner in a U.S. government auction of broadcast airwaves for wireless use. <\/p>\n

Its spectrum portfolio has led industry analysts to speculate that it could tie up with U.S. wireless carriers such as Verizon Communications Inc (VZ.N<\/a><\/span>) or T-Mobile US Inc (TMUS.O<\/a><\/span>). <\/p>\n

Following the spectrum auction, Dish Chief Executive Charlie Ergen said in May the company was open to options that would ultimately increase “shareholder value”. <\/p>\n

Amazon.com Inc (AMZN.O<\/a><\/span>) CEO Jeff Bezos and Ergen have discussed a partnership to enter the wireless business, the Wall Street Journal reported last month. <\/p>\n

The aspirations of the two companies may be intersecting around connected devices, Citi analysts said in May, adding that Amazon could become a customer or investor. <\/p>\n

Dish said second-quarter revenue dipped nearly 6 percent to $3.64 billion. Analysts on an average had expected $3.72 billion. <\/p>\n

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Reporting by Laharee Chatterjee in Bengaluru and Anjali Athavaley in New York; Editing by Sai Sachin Ravikumar<\/p>\n<\/div>\n<\/div>\n


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(Reuters) – Dish Network Corp (DISH.O) on Thursday reported a quarterly profit that missed analysts’ estimates, but the company lost fewer subscribers than expected. The company said it lost about 196,000 net pay-TV subscribers in the second quarter ended June 30. The number includes subscribers to both its satellite TV and Sling TV services. The … <\/p>\n

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