Pay-TV operator DISH Network Corp. (DISH) Tuesday reported third-quarter earnings which declined, hurt by a rise in programming costs and higher expenses related to an increase in transponder capacity.
The company lost about 12,000 net Pay-TV subscribers during the period, compared with 35,000 additions in the same period last year.
Net earnings were $145.52 million or $0.31 per share, down from $314.91 million or $0.68 per share a year earlier.
On average, twenty-two analysts polled by Thomson-Reuters expected the company to report earnings of $0.39. Analysts' estimates typically exclude one-time items.
Revenues increased to $3.68 billion, from $3.51 billion last year, while Wall Street expected $3.69 billion.
Number of pay-TV subscribers decreased slightly to 14.041 million from 14.049 million a year earlier.
The company added approximately 28,000 net broadband subscribers in third quarter, down from additions of 75,000 in the same period a year ago.
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