ENGLEWOOD, Colo.--(BUSINESS WIRE)--
DISH Network Corp. (NASDAQ: DISH) today reported revenue totaling $3.64 billion for the quarter ending June 30, 2017, compared to $3.86 billion for the corresponding period in 2016. Subscriber-related revenue for the quarter totaled $3.61 billion, compared to $3.83 billion in subscriber-related revenue for the year-ago period.
Net income attributable to DISH Network totaled $40 million for the second quarter 2017, compared to net income of $424 million from the year-ago quarter. DISH’s net income for the second quarter was negatively impacted by litigation expenses, net of related taxes, of $280 million.
Diluted earnings per share for the quarter ending June 30, 2017, were $0.09, compared with $0.91 during the same period in 2016.
DISH includes all of its Sling TV subscribers in the company’s total Pay-TV metrics, including in the Pay-TV subscriber, Pay-TV ARPU and Pay-TV churn rate numbers set forth below. Sling TV subscribers are reported net of disconnects in our gross new Pay-TV subscriber activations.
In the second quarter, DISH activated approximately 444,000 gross new Pay-TV subscribers, compared to approximately 527,000 gross new Pay-TV subscribers in the prior year’s second quarter. Net Pay-TV subscribers declined approximately 196,000 in the second quarter, compared to a decline of approximately 281,000 in the second quarter 2016.
The company closed the second quarter with 13.332 million Pay-TV subscribers, compared to 13.593 million Pay-TV subscribers at the end of second quarter 2016.
Pay-TV ARPU for the second quarter totaled $87.25, compared to the year-ago period’s Pay-TV ARPU of $89.98. Pay-TV subscriber churn rate was 1.59 percent versus 1.96 percent for second quarter 2016.
Year-to-Date Review
DISH Network's first-half 2017 revenue totaled $7.32 billion, compared to $7.69 billion in revenue from the same period last year. In the first six months of 2017, net income attributable to DISH Network totaled $416 million, compared with $824 million during the same period last year. DISH’s net income for the first six months of 2017 was negatively impacted by litigation expenses, net of related taxes, of $280 million.
Diluted earnings per share were $0.86 for the first six months of 2017, compared with $1.77 during the same period in 2016.
Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarter ended June 30, 2017, filed today with the Securities and Exchange Commission.
DISH Network will host its second quarter 2017 financial results conference call today at noon ET. Participant conference numbers: (866) 548-4713 (U.S.) and (323) 794-2093, Conference ID: 6907489
A webcast replay will be available on DISH's Investor Relations website, http://dish.client.shareholder.com, today and will remain available for 48 hours.
About DISH
DISH Network Corp. (NASDAQ:DISH), through its subsidiaries, provides approximately 13.332 million pay-TV subscribers, as of June 30, 2017, with the highest-quality programming and technology with the most choices at the best value. DISH offers a high definition line-up with more than 200 national HD channels, the most international channels and award-winning HD and DVR technology. DISH Network Corporation is a Fortune 200 company. Visit www.dish.com.
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