Dish Network reports quarterly profit above estimates

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[November 09, 2015]  (Reuters) - Dish Network Corp reported a better-than-expected quarterly profit, helped by higher revenue per user from its core pay-TV business.

The second-largest U.S. satellite TV company by revenue said on Monday its average revenue per pay-TV user rose to $86.33 in the third quarter from $84.39 a year earlier.

Dish added about 13,000 broadband subscribers on a net basis in the quarter, bringing its broadband subscriber base to about 608,000.

The company has been attempting to woo young viewers away from their cable or satellite subscriptions to its less costly Sling TV streaming service, which it launched in January.

Dish has been losing pay-TV subscribers in an increasingly competitive market as rivals offer discounts to both new and existing subscribers.

The company lost about 23,000 pay-TV subscribers on a net basis in the quarter ended Sept. 30, compared with a loss of about 12,000 a year earlier.

DirecTV merged with AT&T Inc <T.N> in July to form the biggest pay-TV company, which allows the combined company to offer bundled services that Dish cannot, according to research firm Trefis.

Net income attributable to Dish rose 34.2 percent to $196 million, or 42 cents per share.

Total revenue rose to $3.73 billion from $3.68 billion.

Analysts on average had expected a profit of 39 cents per share and revenue of $3.79 billion, according to Thomson Reuters I/B/E/S.

Dish's shares closed at $63.74 on the Nasdaq on Friday. Up to the close, the shares had fallen 12.6 percent this year.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Maju Samuel)
 

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