Dish Network Spikes on Subscriber Gain
(Dish Network earnings report article updated with closing stock movement and closing price information for Dish Network stock.)
ENGLEWOOD, Colo. (
) --
Dish Network's
(DISH) - Get Report
fourth-quarter profit declined almost 18% even as it posted subscriber gains.
Dish Network reported net income of $179 million, or 40 cents a share, down from $217 million, or 48 cents a share, a year earlier.
Dish Network said revenue increased 1.4% to $2.96 billion in the quarter as it gained about 249,000 subscribers. Analysts surveyed by Thomson Reuters expected earnings of 33 cents a share on revenue of $2.94 billion.
Investors were clearly focused on the subscriber gain on Monday, as they sent shares in Dish Network climbing throughout the day, rising 7.7%, or $1.53, to a Monday closing price of $21.50.
-- Reported by Andrea Tse in New York
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