RELATED: Mixed Q2 for Dish
Dish Network shares fell more
than 10% in early trading Monday, after the second largest satellite
TV service provider in the country reported a loss of 19,000 customers
in the second quarter, a result that some investors feared could be
a signal of future declines.
Dish stock was priced at $18.63
per share in early afternoon Monday, down $2.21 per share or 10.6%.
The customer losses come after
strong subscriber growth from its chief rival - No. 1 satellite TV service
provider DirecTV, which last week reported U.S. subscriber additions
of about 100,000 customers. The Dish losses come after four consecutive
quarters of customer growth. But investors apparent feared that the
declines could signal a return to the big losses of 2008, when the satellite
giant lost a total of 102,000 customers for the year, its first ever
full year of subscriber declines.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.