DISH Network TV subscribers down 116,000 in 3Q 2016Wednesday, November 9th, 2016
DISH Network Reports Third Quarter 2016 Financial Results
ENGLEWOOD, Colo. — DISH Network Corp. (NASDAQ: DISH) today reported revenue totaling $3.75 billion for the quarter ending September 30, 2016, compared to $3.73 billion for the corresponding period in 2015. Subscriber-related revenue increased to $3.73 billion from $3.70 billion in the year-ago period.
Net income attributable to DISH Network totaled $307 million for the third quarter 2016, compared with $196 million from the year-ago quarter. Diluted earnings per share were $0.64 for the third quarter, compared with $0.42 during the same period in 2015.
DISH includes all of its Sling TV subscribers in the company’s total Pay-TV metrics, including in the Pay-TV subscriber, Pay-TV ARPU and Pay-TV churn rate numbers set forth below. Sling TV subscribers are reported net of disconnects in our gross new Pay-TV subscriber activations.
In the third quarter, DISH activated approximately 736,000 gross new Pay-TV subscribers compared to approximately 751,000 gross new Pay-TV subscribers in the prior year’s third quarter. Net Pay-TV subscribers declined approximately 116,000 in the third quarter, compared to a loss of approximately 23,000 in the third quarter 2015.
The company closed the third quarter with 13.643 million Pay-TV subscribers, compared to 13.909 million Pay-TV subscribers at the end of third quarter 2015. Our ending Pay-TV subscriber count increased by approximately 166,000 subscribers as of September 30, 2016 as a result of a change in our calculation for our commercial accounts. This had no impact on our gross new Pay-TV subscriber activations, net Pay-TV subscriber losses or Pay-TV churn rate for all periods presented.
Pay-TV ARPU for the third quarter totaled $89.44, compared to third quarter 2015 Pay-TV ARPU of $86.33. Pay-TV subscriber churn rate was 2.11 percent versus 1.86 percent for third quarter 2015.
DISH lost approximately 20,000 net broadband subscribers in the third quarter, bringing its broadband subscriber base to approximately 593,000.