Satellite broadcaster Dish Network posted profit and revenue gains for last quarter, beating Wall Street estimates and seeing its stock pop more than 3% in early trade.
Revenue totaling $4.6 billion for the quarter, u from $3.24 billion the year before. Diluted earnings per share came in at $1.24 for the fourth quarter, compared to $0.69. Net income was $733 million versus $389 million from the year-ago quarter.
Net pay-TV subscribers decreased approximately 133,000 in the fourth quarter – narrowed compared to a decrease of approximately 194,000 in the year-ago quarter.
The company closed the quarter with 11.29 million pay-TV subscribers, including 8.82 million Dish TV subscribers and 2.47 million Sling TV subscribers. Retail wireless net subscribers decreased by approximately 363,000 in the fourth quarter, compared to a net decrease of 212,000 in the third quarter.
The company closed the quarter with 9.06 million retail wireless subscribers.
As it builds out its wireless business in 5G, the company noted in its year-end filing it noted it has invested over $11 billion to acquire wireless spectrum licenses and related assets and made over $10 billion in non-controlling investments in certain entities, for a total of over $21 billion.
The company is holding a call at noon today discuss the numbers.
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