Dish Network lost about 111,000 net subscribers in the third quarter, widely missing analyst consensus estimates of 80,000 losses.
Gross customer additions were also short of the mark - 656,000 in the period, vs. analysts' consensus of 667,000. The weakness in gross additions was magnified by higher than expected churn levels - 1.83% compared to consensus of 1.78%. Revenue of $3.6 billion slightly missed consensus of $3.63 billion, but cash flow of $874 million was disappointing compared to consensus estimates of $908 million.
The one bright spot? Net income again rose significantly - by 30% in the quarter to $319 million. Net income was also up 30% in the second quarter.
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