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DISH Network Q2 Results Top Estimates

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DISH Network Corp. (DISH) reported Friday that net income for the second quarter grew from last year, despite a small revenue drop. Earnings per share and quarterly revenues also topped estimates.

Net income for the quarter increased to $452 million or $0.78 per share from $317 million or $0.60 per share in the prior-year quarter.

On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $0.58 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter declined to $3.19 billion from $3.21 billion in the same quarter last year. Analysts expected revenue of $3.10 billion for the quarter.

DISH Network ended the second quarter with 11.27 million Pay-TV subscriber, including 9.02 million DISH TV subscribers and 2.25 million SLING TV subscribers.

The company said COVID-19 pandemic caused significant disruption in certain commercial segments served by DISH, including the hospitality and airline industries.

As a result of the disruption, DISH paused service or provided temporary rate relief for approximately 250,000 commercial accounts and removed those accounts from its ending Pay-TV subscriber count as of March 31, 2020. However, 45,000 of these subscribers resumed normal service during the second quarter.

DISH TV's subscriber count at June 30, 2020 increased by 5,000 subscribers from the levels at March 31, 2020.

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