Dish Network shares up 7% after losing fewer subscribers than expected

Finance


Patrick T. Fallon | Bloomberg | Getty Images

A Dish Network Corp. field service specialist installs a satellite television system at a residence in Downey, California.

Dish Network shares jumped 7 percent after the pay TV company reported better than expected profit.

Dish posted June quarter earnings per share of 83 cents versus the Thomson Reuters consensus of 71 cents.

Raymond James analyst Ric Prentiss called the company’s earnings results “strong” in a note to clients.

The company lost 192,000 Dish TV subscribers in its second quarter, which was “slightly” better than Prentiss’ 200,000 subscriber loss estimate.

The company’s stock has underperformed significantly this year as investors worried over its paid television subscriber losses to online streaming services like Netflix.

Dish shares are down 37.5 percent this year through Thursday versus the S&P 500’s 5.8 percent gain.



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