Dish Network 2Q profit rises, subscribers fall

[August 09, 2011]  ENGLEWOOD, Colo. (AP) -- Dish Network Corp.'s second-quarter net income climbed 30 percent, but its net subscribers declined partly because of rival's discounts.

To remain competitive, the No. 3 pay TV company said Tuesday that it will be freezing prices through January 2013.

Dish reported net income of $334.8 million, or 75 cents per share, for the period ended June 30. That's up from $257 million, or 57 cents per share, a year earlier.

Analysts expected earnings of 79 cents per share.

Revenue rose 13 percent to $3.59 billion from $3.17 billion, beating Wall Street's estimate of $3.38 billion

Net subscribers fell by about 135,000 to approximately 14.1 million subscribers.

Dish Network recently purchased Blockbuster Inc.'s assets out of bankruptcy.

[Associated Press]

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