Dish Network Q4 profit rises 38 percent; revenue up 6.6 percent

Nathan Andrada – Fourth Estate Cooperative Contributor

New York, NY, United States (4E) – Dish Network Corp. reported a 38 percent rise in fourth-quarter profit as it attracted more subscribers to its broadband and pay-TV services.

Dish reported earnings of $288mn, or 63 cents per share, higher than $209.1mn, or 46 cents per share. In the year-earlier quarter, the company was hit with a $25mn loss due to discontinued operations, compared with a $7.1mn loss in the most recent period.

Revenue jumped 6.6 percent to $3.54bn.

Dish, which is facing intense competition from rival pay-TV service providers as well as the rise of online entertainment, has been adding to its subscriber base for its broadband service while having difficulty to keep its subscribers for its pay-TV service.

In January, the company won a legal battle in its dispute with Fox Broadcasting Co. over ad-skipping and recording features on the “Hopper” service by Dish.

Dish has been battling with wireless firm LightSquared since last year, although LightSquared said it will be working with Dish chairman Charlie Ergen, who has a stake in LightSquare’s debt, on restructuring.

Earlier this month, a court ruled that LightSquared could take a $33mn bankruptcy loan from its bank-debt holders, with more than half of the cash coming from Mr. Ergen.

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