Dish Network saw its third quarter 2014 profits and earnings drop as subscribers headed for the hills.
The company reported revenue of $3.68 billion for 2014’s third quarter, up from $3.51 billion in 2013’s Q3 — that was pretty much the only financial highlight on Tuesday’s press release. Net income fell from $315 million to $146 million across the same quarter year-over-year.
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Likewise, diluted earnings per share for the quarter ending Sept. 30, 2014 were more than halved at $0.31, compared with $0.68 during the same period in 2013.
Total pay-TV customers decreased by approximately 12,000 in the quarter.
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Dish ended its third quarter with 14.041 million pay-TV subscribers, compared to 14.049 million pay-TV subscribers at the end of third quarter 2013. The company activated approximately 691,000 gross new pay-TV subscribers, compared to roughly 734,000 gross new pay-TV subscribers in the prior year’s third quarter.
Dish added about 28,000 net broadband subscribers in the third quarter, bringing its broadband subscriber base to a rounded 553,000. The company added approximately 75,000 net broadband subscribers in the third quarter 2013.
An earnings call will take place Tuesday at noon ET, at which point this post will be updated with any pertinent information.