NEW YORK (TheStreet) -- Dish Network (DISH) shares are down 0.10% to $66.79 in early market trading on Monday following the release of the pay television service provider's first quarter earnings results before the opening bell today.
The company was able to increase its revenue and nearly double its net income in the period despite losing 134,000 customers thanks in part to a price increase that went into effect in January. In February the company also started offering Sling TV, a streaming service for 20 live channel broadcasts aimed at younger viewers.
Dish reported a first quarter net income of $351.5 million, or 76 cents per diluted share, which easily topped analysts' 40 cent per share expectations by 36 cents. Revenue for the period rose 2.8% to $3.7 billion, which is in line with analyst guidance.
TheStreet Ratings team rates DISH NETWORK CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate DISH NETWORK CORP (DISH) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, expanding profit margins, increase in stock price during the past year and growth in earnings per share. We feel its strengths outweigh the fact that the company shows weak operating cash flow."