DISH Network Reports First Quarter 2016 Financial Results

 

 DISH Network Corporation reported revenue totaling $3.79 billion for the quarter ending March 31, 2016, compared to $3.72 billion for the corresponding period in 2015. Subscriber-related revenue increased to $3.78 billion from $3.7 billion in the year-ago period.

Net income attributable to DISH Network totaled $389 million for the quarter ending March 31, 2016, compared to net income of $351 million from the year-ago quarter. Diluted earnings per share for the quarter ending March 31, 2016 were $0.84, compared with $0.76 during the same period in 2015.

DISH includes all of its Sling TV subscribers in the company's total Pay-TV metrics, including in the Pay-TV subscriber, Pay-TV ARPU and Pay-TV churn rate numbers set forth below. Sling TV subscribers are reported net of disconnects in our gross new Pay-TV subscriber activations.

In the first quarter, DISH activated approximately 657,000 gross new Pay-TV subscribers, compared to approximately 723,000 gross new Pay-TV subscribers in the prior year's first quarter. Net Pay-TV subscribers declined approximately 23,000 in the first quarter, compared to a gain of approximately 35,000 in the first quarter 2015.

The company closed the first quarter with 13.874 million Pay-TV subscribers, compared to 14.013 million Pay-TV subscribers at the end of first quarter 2015.

Pay-TV ARPU for the first quarter totaled $87.94, compared to the year-ago period's Pay-TV ARPU of $85.73. Pay-TV subscriber churn rate was 1.63 percent versus 1.64 percent for first quarter 2015.

DISH added approximately 5,000 net broadband subscribers in the first quarter, bringing its broadband subscriber base to approximately 628,000.

Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarter ended March 31, 2016, filed today with the Securities and Exchange Commission.