U.S. Satellite TV provider Dish Network Corp (DISH) reported quarterly revenue below analysts’ estimates as it lost more subscribers than expected in its core pay-TV business.
The company lost 23,000 net pay-TV subscribers in the quarter, more than the analysts’ average estimate of a loss of 13,100 customers, according to market research firm FactSet StreetAccount.
The pay-TV operator had gained about 35,000 subscribers in the year-earlier period.
Dish, which is grappling with subscriber losses like other pay-TV providers, has been increasing rates and trying to lure young viewers to its cheaper $20-per-month Sling TV online streaming service.
Average revenue per user in the company’s pay-TV business rose to $87.94 from $85.73.
Net income attributable to Dish rose to 389 million, or 84 cents per share, for the first quarter ended March 31 from $351 million, or 76 cents per share, a year earlier.
Revenue rose to $3.79 billion from $3.72 billion last year.
Analysts on an average expected earnings of 62 cents per share and revenue of $3.8 billion, according to Thomson Reuters I/B/E/S.