Dish revenue falls five percent as satellite subscribers drop

(Reuters) - U.S. satellite TV service provider Dish Network Corp reported a 5 percent fall in quarterly revenue on Wednesday as it leaked more subscribers in the face of cheaper options like Netflix and Hulu.

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

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. Analysts had expected the company to report revenue of $3.39 billion, according to Refinitiv data.

 

(Reporting by Akanksha Rana in Bengaluru and Sheila Dang in New York; editing by Patrick Graham)