Stock down slightly
Dish Network profit fell 34 percent in the first quarter to $360 million from the same quarter in 2011, according to earnings released Monday.
The company reported total revenue of $3.58 billion for the quarter ended March 31, 2012, an 11 percent increase from the $3.22 billion for the same quarter in the previous year. Analysts had expectated $3.6 billion, according to Thomson Reuters I/B/E/S.
It gained about 104,000 net subscribers, beating analysts' average estimate of 62,000, according to StreetAccount data. In the previous first quarter, it gained 58,000 subsribers. It ended the latest quarter with 14.071 million subscribers.
As of 11:55 a.m. ET Monday, shares of the stock had fallen 2.61 percent to $30.49.
Dish, the second-largest satellite TV company behind DirecTV, is being sued for $2.5 billion by AMC Networks. AMC contends that Dish improperly terminated a 15-year contract with one of its subsidiaries, VOOM HD.
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