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MarketScreener Homepage  >  Equities  >  Nasdaq  >  DISH Network Corporation    DISH

DISH NETWORK CORPORATION

(DISH)
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Sling TV Boosts Dish Subscriber Count

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11/07/2019 | 08:25am EST

By Drew FitzGerald

Dish Network Corp. posted a surprise customer gain in the third quarter as its internet-TV business overshadowed accounts lost on the satellite side.

Overall, the company posted a net gain of 148,000 pay-TV customers during the three months that ended Sept. 30. That included a loss of 66,000 satellite-TV customers while internet-based Sling TV added 214,000 customers. Dish ended the period with 12.2 million pay-TV subscribers.

Financial analysts expected the company to post a 162,000 subscriber loss, according to an average of estimates compiled by FactSet.

Dish's earnings have come under pressure in recent years as satellite-TV customers drop their channel bundles in search of cheaper alternatives. Some have stopped paying for live TV altogether.

Rival channel bundlers have suffered more defections, however. AT&T Inc. reported a loss of 1.4 million pay-TV customers over the same period, a figure that included customer declines in its online TV service.

AT&T recently increased prices for its AT&T TV streaming video services, while Sony Corp. said it would scrap its PlayStation Vue streaming service. Dish has also raised Sling TV prices, though its basic packages still attract cost-conscious customers with plans as low as $25 a month.

Dish's earnings fell as it traded satellite subscribers for gains at Sling TV. Its average revenue per user slipped to $85.29 during the quarter from $86.29 a year earlier.

Dish reported a third-quarter profit of $353.3 million, or 66 cents a share, down from $431.7 million, or 82 cents a share, a year earlier. Revenue fell 6.7% to $3.17 billion.

Growth at Dish was under pressure last year as the company fought with Univision over carriage rates. The two sides struck a deal in March to restore the Spanish language channels.

The company resolved a standoff with Fox Corp. earlier this year that threatened the airing of National Football League games. It continued to negotiate with Fox over carriage of its regional sports networks. Fox Corp. and Wall Street Journal parent News Corp share common ownership.

Other disputes have lasted longer. AT&T-owned HBO has been unavailable through Dish or Sling for more than a year.

Write to Drew FitzGerald at andrew.fitzgerald@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
AT&T 0.09% 38.1 Delayed Quote.33.36%
DISH NETWORK CORPORATION 1.12% 33.905 Delayed Quote.34.28%
NEWS CORPORATION 1.10% 13.36 Delayed Quote.16.39%
SONY CORPORATION 1.41% 7245 End-of-day quote.40.73%
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Financials (USD)
Sales 2019 12 719 M
EBIT 2019 1 794 M
Net income 2019 1 360 M
Debt 2019 11 692 M
Yield 2019 -
P/E ratio 2019 13,3x
P/E ratio 2020 16,7x
EV / Sales2019 2,22x
EV / Sales2020 2,21x
Capitalization 16 532 M
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Technical analysis trends DISH NETWORK CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 42,66  $
Last Close Price 33,53  $
Spread / Highest target 186%
Spread / Average Target 27,2%
Spread / Lowest Target -22,5%
EPS Revisions
Managers
NameTitle
W. Erik Carlson President & Chief Executive Officer
Charles William Ergen Executive Chairman
John Swieringa Chief Operating Officer & Executive Vice President
Paul W. Orban Chief Financial Officer & Executive Vice President
Atilla Tinic Chief Information Officer & Senior Vice President
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