DISH/Sling pay TV subscribers up 39,000 in 4Q 2017Wednesday, February 21st, 2018
DISH Network Reports Fourth Quarter, Year-End 2017 Financial Results
ENGLEWOOD, Colo. — DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $3.48 billion for the quarter ending December 31, 2017, compared to $3.75 billion for the corresponding period in 2016.
Net income attributable to DISH Network totaled $1.39 billion for the fourth quarter 2017, compared to $355 million from the year-ago quarter. Fourth quarter 2017 net income was positively impacted by an income tax benefit of approximately $1.2 billion due to an adjustment to deferred tax assets and liabilities related to tax reform legislation, and negatively impacted by an impairment of long-lived assets expense of $112 million, net of related taxes.
Diluted earnings per share were $2.64 for the fourth quarter, compared to $0.73 per share during the same period of 2016.
DISH Network Reports DISH TV and Sling TV Subscribers
The company closed the fourth quarter with 13.242 million Pay-TV subscribers, including 11.030 million DISH TV subscribers and 2.212 million Sling TV subscribers. This reporting marks the first time the company has separately disclosed its DISH TV and Sling TV subscribers within the total population of Pay-TV subscribers.
Net Pay-TV subscribers increased by approximately 39,000 in the fourth quarter, which includes 75,000 reactivations in Puerto Rico and the U.S. Virgin Islands following the extraordinary devastation of Hurricane Maria. This gain is compared to net additions of 28,000 in the year-ago quarter.
Full-Year 2017 Review
For the year, DISH reported 2017 total revenue of $14.39 billion, compared to $15.21 billion in 2016. Subscriber-related revenue in 2017 was $14.26 billion, compared to $15.03 billion in 2016.
Net income attributable to DISH Network in 2017 was $2.10 billion, compared to $1.50 billion in 2016. Net income for 2017 was positively impacted by an income tax benefit of approximately $1.2 billion related to tax reform legislation. Net income was negatively impacted by an impairment of long-lived assets expense of $112 million and litigation expenses of $287 million, each net of related taxes.
Diluted earnings per share were $4.07 in 2017, compared to $3.15 in 2016.
Pay-TV ARPU was $86.43 during 2017 versus $88.66 in 2016. DISH TV’s average monthly subscriber churn for 2017 was 1.78 percent, compared to 1.97 percent in 2016.
Detailed financial data and other information are available in DISH Network’s Form 10-K for the year ended Dec. 31, 2017, filed today with the Securities and Exchange Commission.