DISH Network Corp (NASDAQ:DISH) has released its earnings report for the third quarter of 2016.
DISH Network Corp reported earnings per share of 64 cents during the third quarter of 2016. This is an increase over its earnings per share of 42 cents reported during the same time last year. However, it was unable to reach the earnings per share of 68 cents that Wall Street was looking for in the quarter.
Revenue reported by DISH Network Corp in the third quarter of 2016 was $3.75 billion. Revenue reported by the company in the third quarter of 2015 was $3.73 billion. Analysts were expecting DISH to report revenue of $3.74 billion for the third quarter of the year.
Net income reported by DISH Network Corp for the third quarter of 2016 was $307 million. The TV subscription company reported net income of $196 million during the same quarter of the year prior.
DISH Network Corp saw a decrease in subscribers during the third quarter of 2016. The company reported that net Pay-TV subscribers were down 116,000 for the quarter. The company’s net broadband subscribers declined by 20,000 during the quarter. It ended the quarter with 13.643 million Pay-TV subscribers and 593,000 broadband subscribers.
Despite the decline in subscribers to its Pay-TV and broadband services, the company reported an increase in subscriber revenue in the third quarter of 2016. It saw subscriber revenue increase to $3.73 billion during the quarter from $3.70 billion in the same time last year. Pay-TV average revenue per user was $89.44 in the quarter, which is up from $86.33 a year ago.
DISH stock was largely unaffected by the news as of Wednesday morning.
