Dish Posts $11M Net Loss, Sheds 78,000 Net Video SubsAdds lower-than-expected 624,000 gross new pay TV subs, as 61,000 broadband adds highlight the quarter 8/06/2013 09:53:12 AM Eastern
Dish posted a net loss of $11 million in the second quarter on revenues of $3.61 billion, as the satellite giant was hit by $438 million of impairment charges linked two of the three satellites acquired through the TerreStar and DBSD deals. Analysts polled by Thomson Reuters were expecting revenues of $3.65 billion.
Dish notched 624,000 gross video additions in the quarter, off from analyst expectations of 648,000, and 6.2% lower than the year-ago total. That was not enough to weather a decline of about 78,000 net video subs in the quarter, dropping its pay TV total to 14.01 million. ISI Media analyst Vijay Jayant expected Dish to lose 45,000 video subs.
The average revenue per user among pay TV subs was $80.90, ahead of $77.59 a year ago. Dish said pay TV churn rate increased to 1.67%, versus 1.60% in 2012, impacted by its first programming package price increase in two years.