May have gained from CBS-Time Warner Cable fight
Dish Network earned 35,000 net new subscribers in the third quarter, easily beating analysts’ expectations.
Wall Street analysts had forecast that the company would lose 39,000 subscribers, according to StreetAccount data. The company may have gained, just as rival DirecTV did, from the third-quarter standoff between CBS and Time Warner Cable in which TWC blacked out CBS in major markets for a month.
Last week, DirecTV reported gaining 139,000 net additions, nearly double the 70,000 analysts had expected.
Dish, the country’s second-largest satellite TV company reported net income of $315 million, or 68 cents per share, in the quarter ended September 30. That was compared to a net loss of $158 million, or 35 cents per share, a year earlier.
Revenue rose 2 percent to $3.60 billion in the latest quarter.
Dish closed the third quarter with 14.049 million pay-TV subscribers, compared to 14.042 million pay-TV subscribers at the end of the previous third quarter. It added roughly 734,000 gross new pay-TV subscribers compared to roughly 739,000 gross new pay-TV subscribers in the prior year’s third quarter.