DISH Network Reports First Quarter 2017 Financial Results
May 01 2017 - 6:05AM
Business Wire
DISH Network Corporation (NASDAQ: DISH) today reported revenue
totaling $3.68 billion for the quarter ending March 31, 2017,
compared to $3.83 billion for the corresponding period in 2016.
Subscriber-related revenue for the quarter totaled $3.64 billion,
compared to $3.78 billion in subscriber-related revenue for the
year-ago period.
Net income attributable to DISH Network totaled $376 million for
the quarter ending March 31, 2017, compared to net income of $400
million from the year-ago quarter. Diluted earnings per share for
the quarter ending March 31, 2017 were $0.76, compared with $0.86
during the same period in 2016.
During the first quarter, DISH completed a transaction with
EchoStar Corporation that transferred certain EchoStar assets and
operations to DISH in exchange for DISH's 80 percent economic
interest in the Hughes Retail Group that was held in
the form of a tracking stock. As the transaction was between
entities that are under common control, accounting rules require
that the results of the transferred assets and operations be
included in our financial statements for all periods presented,
including periods prior to the completion of the transaction. This
adjustment had no impact on our gross new Pay-TV or broadband
subscriber activations, net Pay-TV or broadband subscriber losses
or Pay-TV churn rate for all periods presented.
DISH includes all of its Sling TV subscribers in the company’s
total Pay-TV metrics, including in the Pay-TV subscriber, Pay-TV
ARPU and Pay-TV churn rate numbers set forth below. Sling TV
subscribers are reported net of disconnects in our gross new Pay-TV
subscriber activations.
In the first quarter, DISH activated approximately 547,000 gross
new Pay-TV subscribers, compared to approximately 657,000 gross new
Pay-TV subscribers in the prior year’s first quarter. Net Pay-TV
subscribers declined approximately 143,000 in the first quarter,
compared to a decline of approximately 23,000 in the first quarter
2016.
The company closed the first quarter with 13.528 million Pay-TV
subscribers, compared to 13.874 million Pay-TV subscribers at the
end of first quarter 2016.
Pay-TV ARPU for the first quarter totaled $86.55, compared to
the year-ago period’s Pay-TV ARPU of $87.94. Pay-TV subscriber
churn rate was 1.69 percent versus 1.63 percent for first quarter
2016.
DISH lost approximately 25,000 net broadband subscribers in the
first quarter, bringing its broadband subscriber base to
approximately 555,000.
Detailed financial data and other information are available in
DISH Network's Form 10-Q for the quarter ended March 31, 2017,
filed today with the Securities and Exchange Commission.
DISH Network will host its first quarter 2017 financial results
conference call today at noon ET. Participant conference numbers:
(888) 394-8218 (U.S.) and (719) 457-1036, Conference ID:
8074221
A webcast replay will be available on DISH's Investor Relations
website, http://dish.client.shareholder.com, today from 6 p.m.
to 12 a.m. ET.
About DISH
DISH Network Corp. (NASDAQ:DISH), through its subsidiaries,
provides approximately 13.528 million pay-TV subscribers, as of
March 31, 2017, with the highest-quality programming and technology
with the most choices at the best value. DISH offers a high
definition line-up with more than 200 national HD channels, the
most international channels and award-winning HD and DVR
technology. DISH Network Corporation is a Fortune 200 company.
Visit www.dish.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170501005449/en/
DISH Network CorporationMedia
ContactJohn Hall,
303-723-1968johnw.hall@dish.com@DISHNewsorInvestor ContactJason Kiser,
303-723-2210jason.kiser@dish.com
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