DISH Network, the US pay-TV broadcaster, has reported revenue totalling $3.4 billion (€2.96bn) for the quarter ending September 30th 2018, compared with $3.58 billion for the corresponding period in 2017. Subscriber-related revenue for the quarter totalled $3.35 billion, compared with $3.55 billion of subscriber-related revenue for the year-ago period.
Net income attributable to DISH Network totalled $432 million for the third quarter 2018, compared with net income of $297 million during the same quarter in 2017. DISH’s net income for the third quarter of 2018 was positively impacted by non-cash adjustments related to the adoption of the ASC 606 revenue recognition standard, net of related taxes, of $31 million. Diluted earnings per share for the quarter were $0.82, compared with $0.57 during the same period in 2017.
The company closed the third quarter with 10.28 million DISH TV subscribers and 2.37 million Sling TV subscribers. The total 12.6 million pay-TV subscribers is compared with 13.2 million pay-TV subscribers at the end of third quarter 2017.
Net pay-TV subscribers declined approximately 341,000 in the third quarter, compared with an increase of approximately 16,000 in the third quarter 2017. In the quarter, net DISH TV subscribers declined approximately 367,000 and Sling TV subscribers increased approximately 26,000. DISH TV’s average monthly subscriber churn rate was 2.11 per cent versus 1.82 per cent for third quarter 2017.