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Dish Misses Wide in Q3

Dish Network lost about 111,000 net subscribers in the third quarter, widely missing analyst consensus estimates of 80,000 losses.

Gross customer additions were also short of the mark - 656,000 in the period, vs. analysts' consensus of 667,000. The weakness in gross additions was magnified by higher than expected churn levels - 1.83% compared to consensus of 1.78%. Revenue of $3.6 billion slightly missed consensus of $3.63 billion, but cash flow of $874 million was disappointing compared to consensus estimates of $908 million.

The one bright spot? Net income again rose significantly - by 30% in the quarter to $319 million. Net income was also up 30% in the second quarter.

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