Dish Network Reports Rising Profit Despite Decline in Subscribers

   By Kimberly Chin

Dish Network Corp. (DISH) said profit rose 45% despite revenue falling short of expectations and a decline in subscribers.

Profit was $432 million, or 82 cents a share, from $297 million, or 57 cents a share a year ago, the company said. Analysts polled by Refinitiv were expecting earnings of 67 cents a share.

Dish reported overall revenue slipped to $3.4 billion from $3.58 billion a year ago, just meeting analysts' expectations of $3.39 billion. Revenue from subscribers, which makes up most of Dish's top line, fell by 5.6%.

Dish had 10.3 million U.S. pay-TV subscribers and 2.4 million Sling TV subscribers. The total number of pay-TV subscribers was 12.7 million, compared with 13.2 million a year ago. Analysts polled by FactSet were expecting Dish to have about 12.9 million subscribers at the end of the quarter.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

November 07, 2018 06:42 ET (11:42 GMT)

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