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[video] Dish Network Sees 38% Jump in Profit on Higher Subcriber Revenue

NEW YORK ( TheStreet) -- Shares of Dish network are climbing on Friday after the satellite TV company reported a 38% jump in fourth-quarter profit on increased subscriber revenue growth.  The company reported net income of $288 million, or 63 cents a share, for the quarter.  Revenue rose by 6.6% to more than $3.5 billion, but still narrowly missed analyst expectations of nearly $3.6 billion, according to Thomson Reuters.  While Dish said it added 654,000 pay-TV subscribers and 80,000 broadband customers in the period, both figures came in shy of Wall Street expectations.  The company said that the average revenue per subscriber rose 5% to $81.24 per customer.

VIDEO TRANSCRIPT:

Shares of Dish Network (DISH - Get Report) are climbing on Friday after the satellite TV company reported a 38% jump in fourth-quarter profit on increased subscriber revenue growth.

The company reported net income of $288 million, or 63 cents a share, for the quarter.  Revenue rose by 6.6% to more than $3.5 billion, but still narrowly missed analyst expectations of nearly $3.6 billion, according to Thomson Reuters.

While Dish said it added 654,000 pay-TV subscribers and 80,000 broadband customers in the period, both figures came in shy of Wall Street expectations.  The company said that the average revenue per subscriber rose 5% to $81.24 per customer.

Dish also said it made a deal with EchoStar to improve its position in the growing consumer satellite broadband market.  Dish will give EchoStar (SATS) five satellites and about $11 million in cash in exchange for preferred tracking stock and the right to lease back satellite capacity.

At last check, shares of Dish were climbing about 4.5% to $59.64.

In New York, I'm Brittany Umar for TheStreet.

Written by Brittany Umar in New York.

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