Shares of Dish Network Corp. (NASDAQ:DISH) wobbled on Tuesday after the Colorado satellite TV provider matched forecasts with quarterly earnings, but revenue missed consensus estimates.
Dish Network shares fell slightly to US$33.80.
Dish posted first quarter March 2018 earnings of $368mln, or US$0.70 a share, a decline of 2.1% from the $376mln, or US$0.76 cents a share, it made during the same period a year ago. The company's earnings met expectations from analysts, who were guiding for US$0.70 a share.
Revenue on the other hand fell to US$3.46bn while analysts on average were expecting US$3.5bn in total revenue.
Subscriber growth for Dish's Sling TV service was not enough to offset losses in its pay-TV subscriptions. Dish said it had about 13.1 million Pay-TV subscribers at the end of the quarter, compared to about 13.5 million for the same quarter a year ago. Of total Pay-TV subscribers, about 2.3 million were for Sling TV, which added about 91,000 subscribers during the quarter.