DISH Network Corp (NASDAQ:DISH) and Tesco Corporation (USA) (NASDAQ:TESO) released their third quarter earnings reports before opening bell this morning. Dish Network posted earnings of 31 cents per share on $3.68 billion in revenue. Analysts had been looking for earnings of 39 cents per share on $3.69 billion in revenue. In the same quarter last year, DISH Network earned 68 cents per share on $3.51 billion in revenue.
Tesco reported adjusted earnings of 27 cents per share on $141.9 million in revenue. Analysts had been looking for earnings of $34 cents per share on $154.1 million in revenue. In the same quarter last year, Tesco earned 29 cents per share on $132.2 million in revenue.
Key metrics from Dish Network’s earnings report
The satellite TV provider saw its subscriber-related revenue rise 5.3% to $3.65 billion in the third quarter. Average revenue per pay TV user was $84.39 for the September quarter, compared to $80.98 in the same quarter last year. Dish Network reported a slight increase in pay TV subscriber churn from 1.66% last year to 1.67% this year.
The number of total pay TV subscribers fell by about 12,000, leaving the company with 14.041 million pay TV subscribers. That’s compared to 14.049 million subscribers at the end of last year’s third quarter. Dish activated about 691,000 gross new pay TV subscribers, compared to about 734,000 new subscribers in the same quarter last year.
Dish added about 28,000 net broadband subscribers during the quarter, bringing its total broadband subscriber base to about 553,000. The company added about 75,000 net broadband subscribers during the quarter.
Key metrics from Tesco’s earnings report
Reported earnings were 18 cents per share. The reported earnings include 7 cents per share in after-tax impacts from foreign exchange losses in Russia, Mexico and Argentina. They also include a 2 cent per share negative impact from some losses without tax benefits in some countries.
Tesco reported $87.7 million in revenue from its Top Drive segment and $54.2 million in revenue from its Tubular Services segment. Other segments saw revenue of $1.9 million for the third quarter.