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Dish revenue falls five percent as satellite subscribers drop

Published 11/07/2018, 06:45 AM
© Reuters. FILE PHOTO: A Dish Network satellite dish is shown on a residential home in Encinitas, California
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(Reuters) - U.S. satellite TV service provider Dish Network Corp (O:DISH) reported a 5 percent fall in quarterly revenue on Wednesday as it leaked more subscribers in the face of cheaper options like Netflix (NASDAQ:NFLX) 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.

© Reuters. FILE PHOTO: A Dish Network satellite dish is shown on a residential home in Encinitas, California

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

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