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DISH Network Q4 Results Top View; Pay-TV Subscribers Down

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DISH Network Corp. (DISH) Wednesday reported a profit for the fourth-quarter that increased about 15 percent from last year, but quarterly revenue declined 2 percent. Net Pay-TV subscribers for the quarter decreased by about 194,000 from the prior quarter.

Both quarterly earnings per share and revenue top analysts' estimates.

Dish closed the fourth quarter with 11.99 million Pay-TV subscribers, including 9.40 million DISH TV subscribers and 2.59 million Sling TV subscribers.

The company had 12.32 million pay-TV subscribers in the fourth-quarter of 2018, while it had 12.18 million pay-TV subscribers in the third quarter of 2019.

Net Pay-TV subscribers decreased by about 194,000 in the fourth quarter, compared to a net decrease of 334,000 in the year-ago quarter.

"We also face increasing competition from content providers and other companies who distribute video directly to consumers over the Internet," the company said in a statement.

The satellite-TV operator reported that its net income attributable to the company for the fourth-quarter rose 15.4 percent to $389 million from last year's $337 million, with earnings per share improving to $0.69 from $0.64 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.59 per share for the fourth-quarter. Analysts' estimates typically exclude special items.

Quarterly revenue decreased 2.11 percent to $3.24 billion from $3.31 billion in the prior year. Analysts expected revenues of $3.15 billion for the quarter.

In pre-market trade, DISH is trading at $42.00, up $0.71 or 1.72 percent.

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