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Dish loses 367k satellite subscribers, revenue falls 5 Percent

Reuters 

(Reuters) - Network Corp's quarterly revenue fell 5 percent, the U.S. service provider said on Wednesday, as it leaked thousands of subscribers in the face of cheaper options like and

shed a net 367,000 during the third quarter, far beyond a consensus estimate of 232,000 net customer losses, according to research firm

has tried to lure viewers to its $25-per-month TV as it battles in its satellite-TV services, with audiences shifting to Netflix, Amazon.com's and other services.

But added just 26,000 subscribers during the quarter ended September while analysts on average had expected 71,000 additions, according to

The average monthly subscriber churn rate, or the percentage of subscribers who leave a service provider, rose to 2.11 percent, compared with 1.82 percent in the same period last year.

Net income attributable to the company rose to $432 million, or 82 cents per share, in the third quarter ended Sept. 30, from $297 million, or 57 cents per share, a year earlier.

Revenue fell to $3.40 billion from $3.58 billion in the prior-year quarter, matching analysts' expectations, according to IBES data from Refinitiv.

(Reporting by in Bengaluru and Sheila Dang in New York; editing by and Sai Sachin Ravikumar)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 07 2018. 17:05 IST
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