Dish Network Climbs Out of This Hole
The country’s second largest satellite TV provider, Dish Network Corp (NASDAQ:DISH), announced results for its first quarter that confirmed its recovery from the loss of 250,000 subscribers in the second and third quarters of 2011.
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Dish Network handily beat analysts’ estimates by reporting a net add of 104,000 subscribers as its strategy of holding prices on its programming packages appeared to be working. According to Thomson Reuters I/B/E/S, analysts had expected the company to add 62,000 net subscribers.
First-quarter earnings fell to $360 million (80 cents a share) compared to $549 million ($1.22 a share) in the year-ago period. Though revenue climbed 11 percent to $3.58 billion, it fell short of the average analyst estimate of $3.6 billion.