DISH Network Reports Third Quarter 2016 Financial Results
ENGLEWOOD, Colo.--(BUSINESS WIRE)--
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
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.
For the first nine months of 2016, DISH Network's revenue was $11.37
billion, compared to $11.29 billion in revenue from the same period last
year. Year to date, net income attributable to DISH Network totaled
$1.11 billion, compared to $872 million from the same period last year.
Diluted earnings per share were $2.35 for the first nine months of 2016,
compared with $1.88 during the same period in 2015.
Detailed financial data and other information are available in DISH
Network's Form 10-Q for the quarter ended September 30, 2016, filed
today with the Securities and Exchange Commission.
DISH Network will host its third quarter 2016 financial results
conference call today at noon Eastern time. The dial-in numbers are
(800) 618-8682 (U.S.) and (312) 281-1202. A webcast replay will be
available on DISH's Investor Relations website [http://dish.client.shareholder.com]
today from 6 p.m. to 12 a.m. ET.
DISH Network Corp. (NASDAQ:DISH), through its subsidiaries, provides
approximately 13.643 million pay-TV subscribers, as of September 30,
2016, with the highest-quality programming and technology with the most
choices at the best value. DISH offers a high definition line-up with
more than 200 national HD channels, the most international channels and
award-winning HD and DVR technology. DISH Network Corporation is a
Fortune 200 company. Visit www.dish.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161109005043/en/
DISH Network Corp.
Jason Kiser, 303-723-2210
Source: DISH Network Corp.
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