Advertisement
Singapore markets open in 6 hours 42 minutes
  • Straits Times Index

    3,187.66
    +32.97 (+1.05%)
     
  • S&P 500

    5,013.91
    -8.30 (-0.17%)
     
  • Dow

    37,760.60
    +7.29 (+0.02%)
     
  • Nasdaq

    15,629.65
    -53.72 (-0.34%)
     
  • Bitcoin USD

    62,521.51
    +884.08 (+1.43%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,877.05
    +29.06 (+0.37%)
     
  • Gold

    2,398.20
    +9.80 (+0.41%)
     
  • Crude Oil

    82.83
    +0.14 (+0.17%)
     
  • 10-Yr Bond

    4.6470
    +0.0620 (+1.35%)
     
  • Nikkei

    38,079.70
    +117.90 (+0.31%)
     
  • Hang Seng

    16,385.87
    +134.03 (+0.82%)
     
  • FTSE Bursa Malaysia

    1,544.76
    +4.34 (+0.28%)
     
  • Jakarta Composite Index

    7,166.81
    +35.97 (+0.50%)
     
  • PSE Index

    6,523.19
    +73.15 (+1.13%)
     

Dish Network loses fewer-than-expected Pay-TV subscribers

(Reuters) - Dish Network Corp (DISH.O), the second-largest U.S. satellite TV company, reported a 5.7 percent rise in second-quarter revenue as it earned more from each subscriber and lost fewer-than-expected pay-TV subscribers.

Average revenue per pay-TV subscriber rose 4 percent to $84.15 (49.99 pounds)in the quarter ended June 30.

The company said it lost 44,000 pay-TV subscribers in the quarter. Analysts on average expected Dish to lose 76,900 subscribers, according to market research firm StreetAccount.

Last week, larger rival DirecTV (DTV.O) reported quarterly revenue above the average analyst estimate as the soccer World Cup helped it add subscribers in Latin America and prices increased in the United States.

ADVERTISEMENT

Dish also said it added 36,000 net broadband subscribers in the quarter, falling short of the 55,500 net subscriber additions estimated by StreetAccount.

Net income attributable to the company was $213.3 million, or 46 cents per share, compared with a net loss of $11 million, or 2 cents per share, a year earlier. (http://bit.ly/1obBc6t)

Revenue rose to $3.69 billion from $3.49 billion a year earlier.

Analysts on average expected a profit of 51 cents per share on revenue of $3.69 billion, according to Thomson Reuters I/B/E/S.

Shares of the company closed at $62.15 on the Nasdaq on Tuesday. The stock had gained 7 percent so far this year up to Tuesday's close.

(Reporting By Lehar Maan and Supantha Mukherjee in Bangalore; Editing by Saumyadeb Chakrabarty and Simon Jennings)