5/2 – Dish Network Reports Strong Earnings

Satellite television provider Dish Network Corp’s quarterly profit more than doubled, helped by strong subscriber numbers. For the first quarter, the second-largest U.S. satellite TV provider posted a net income of $549 million, or $1.22 per share, compared with $231 million, or 52 cents, last year. Revenue grew 5.5 percent to $3.22 billion. Dish gained 58,000 subscribers in the quarter. Kaufman Bros analyst Todd Mitchell had forecast a net loss of 100,000 subscribers. Dish recently won Blockbuster Inc in a bankruptcy auction for $320 million, further broadening its business beyond satellite TV and setting up a possible showdown with Netflix.

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