DISH Network Reports First Quarter 2018 Financial Results
DISH Network Reports First Quarter 2018 Financial Results
ENGLEWOOD, Colo., May 8, 2018 /PRNewswire/ -- DISH Network Corporation (NASDAQ: DISH) today reported revenue totaling $3.46 billion for the quarter ending March 31, 2018, compared to $3.68 billion for the corresponding period in 2017. Subscriber-related revenue for the quarter totaled $3.42 billion, compared to $3.64 billion in subscriber-related revenue for the year-ago period.
Net income attributable to DISH Network totaled $368 million for the quarter ending March 31, 2018, compared to net income of $376 million from the year-ago quarter. DISH's net income for the first quarter was positively impacted by non-cash adjustments related to the adoption of the new ASC 606 revenue recognition standard, net of related taxes, of $27 million. Diluted earnings per share for the quarter ending March 31, 2018 were $0.70, compared with $0.76 during the same period in 2017.
The company closed the first quarter with 10.845 million DISH TV subscribers and 2.303 million Sling TV subscribers. The total 13.148 million Pay-TV subscribers is compared to 13.528 million Pay-TV subscribers at the end of first quarter 2017.
Net Pay-TV subscribers declined approximately 94,000 subscribers in the first quarter, compared to a decline of approximately 143,000 in the first quarter 2017. In the quarter, net DISH TV subscribers declined approximately 185,000 and Sling TV subscribers increased approximately 91,000. DISH TV's average monthly subscriber churn rate was 1.47 percent versus 1.92 percent for first quarter 2017.
Pay-TV ARPU for the first quarter totaled $84.50, compared to the year-ago period's Pay-TV ARPU of $86.55.
Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarter ended March 31, 2018, filed today with the Securities and Exchange Commission.
DISH Network will host its first quarter 2018 financial results conference call today at noon ET.
Participant conference numbers: (888) 394-8218 (U.S.) and (323) 701-0225, Conference ID: 9118252
A webcast replay will be available today on DISH's Investor Relations website, http://ir.dish.com, and will remain available for 48 hours.
About DISH
DISH Network Corporation is a connectivity company. Since 1980, it has served as the disruptive force in pay-TV, driving innovation and value on behalf of consumers. Through its subsidiaries, the company provides television entertainment and award-winning technology to millions of customers with its satellite DISH TV and streaming Sling TV services. DISH operates a national in-home installation workforce, as well as an advertising sales group delivering targeted advertising solutions on DISH TV and Sling TV. In addition to its TV services, DISH has commenced buildout of a national narrowband "Internet of Things" network to provide innovative connectivity solutions and applications through its strategic spectrum portfolio. DISH Network Corporation (NASDAQ: DISH) is a Fortune 200 company.
For more information on DISH TV products and services, visit www.dish.com
For more information on Sling TV products and services, visit www.sling.com
For company information, visit about.dish.com
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CONTACT: Media: Bob Toevs, (303) 723-2010, bob.toevs@dish.com, @DISHNews; or Investor: Jason Kiser, 303-723-2210, jason.kiser@dish.com
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SOURCE DISH Network Corporation
