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Dish profit plummets 90 percent

Thursday, August 03, 2017 - 00:59

The satellite TV provider's quarterly revenue also fell as it lost 196,000 pay-TV subscribers. Fred Katayama reports.

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Dish Network's quarterly profit plummeted 90 percent. Litigation expenses cut into earnings. Revenue also fell as the satellite TV provider lost 196,000 net pay-TV subscribers and the average revenue per user declined. Dish shed subscribers in both its satellite TV and Sling TV services, which were aimed at attracting younger viewers. The results were mixed because while the profit drop was much steeper than analysts had expected, the subscriber loss was much narrower than Wall Street's targets. Dish shares fell at the market open, cutting into their 10 percent gain this year. Dish has been buying up wireless airwaves as its satellite business has come under pressure. JPMorgan analysts said in a note, "We believe the majority of Dish value lies in spectrum." Analysts say Dish could tie up with wireless carriers or even possibly Amazon. Dish plans to build a low-cost wireless network.

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Dish profit plummets 90 percent

Thursday, August 03, 2017 - 00:59