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Dish revenue falls five percent as satellite subscribers drop

Kitco News

(Reuters) - U.S. satellite TV service provider Dish Network Corp (DISH.O) reported a 5 percent fall in quarterly revenue on Wednesday as it leaked more subscribers in the face of cheaper options like Netflix and Hulu.

Dish shed a net 367,000 satellite subscribers during the third quarter, far beyond a consensus estimate of 232,000 net customer losses, according to research firm FactSet.

Net income attributable to the company rose to $432 million, or 82 cents per share, in the third quarter ended Sept. 30 from $297 million, or 57 cents per share, a year earlier.

Revenue fell to $3.40 billion from $3.58 billion in the prior-year quarter. Analysts had expected the company to report revenue of $3.397 billion, according to Refinitiv data.

(This version of the story has been refiled for dropped figure in revenue estimate in paragraph 4)

Reporting by Akanksha Rana in Bengaluru and Sheila Dang in New York; editing by Patrick Graham

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