DISH Network lost 94,000 subscribers during the first quarter, but cost-cutting helped the satellite TV operator boost profits. Revenue grew 2.1 percent to $2.9 billion, while net income grew 21 percent to $313 million and earnings-per-share (EPS) was $0.70, beating analyst expectations of $0.57. The total number of subscribers at the end of the first quarter was 13.6 million. Highlights:
Net subs decreased 94,000, but the loss was less than the 130,000 analysts expected.
Subscriber acquisition costs decreased 7 percent to $659.
Average-revenue-per-user grew 1 percent to $70.03, driven mostly by price increases, but also selling more premium services to subscribers.
DISH Network has struggled to keep up with rival DirecTV (NYSE: DTV), which added almost 500,000 subscribers in the first quarter of this year with the help of better premium sports packages and a new deal with AT&T (NYSE: T) to be it's exclusive satellite partner for its IPTV offerings.
By Rory Maher