Dish Network sees drops in revenue, income and subscribers in Q1

Dish Network reported subscribers to its pay TV offering were down in Q1 2017.

Direct broadcast satellite service provider Dish Network reported revenue of $3.68bn for the first quarter of 2017, which is down from $3.83bn in Q1 2016.

In a press release, Dish said subscriber-related revenue for the quarter was $3.64bn, which was also down from $3.78bn in the same period in 2016.

Net income attributable to Dish was $376m for the quarter versus $400m from the year-ago quarter. Diluted earnings per share also saw a drop to $0.76, compared with $0.86 the first quarter of 2016.

Dish said it activated approximately 547,000 new pay TV subscribers in the first quarter of 2017 versus approximately 657,000 in the prior year’s first quarter. Net pay TV subscribers also dropped approximately 143,000, compared to a decline of approximately 23,000 in the first quarter 2016.

The company closed the first quarter with 13.528m pay TV subscribers, compared to 13.874m pay TV subscribers at the end of first quarter 2016.

Dish said it lost approximately 25,000 net broadband subscribers in the first quarter, bringing its broadband subscriber base to approximately 555,000.