DISH Network (DISH 63.00, -1.44) is down 2.2% in pre-market after reporting mixed results for the first quarter.
The provider of satellite television service delivered above-consensus first quarter earnings of $0.76 per share on a 3.9% year-over-year decline in revenue to $3.68 billion, which was shy of expectations.
Overall, the results from DISH showed that the company is facing some of the same struggles as other television service providers. The company experienced declines in TV and broadband subscribers while also seeing a decline in revenue per user.
Roughly 547,000 gross new Pay-TV subscribers were activated during the quarter, which was down from 657,000 activations one year ago. Net Pay-TV subscribers declined by 143,000 during the quarter after a 23,000 decline in the same quarter one year ago.
DISH Network had 13.528 million Pay-TV subscribers at the end of the quarter, down 2.5% from 13.874 million one year ago. The decline in user base was coupled with a drop in average revenue per user, which fell 1.6% year-over-year to $86.55.
In addition to losing subscribers and generating lower revenue per user, the company saw its Pay-TV subscriber churn increase to 1.69% from 1.63% one year ago. Furthermore, net broadband subscribers declined by 25,000 to approximately 555,000.
With today's pre-market decline, shares of DISH trade about two points below this year's high, which represents the best level for the stock since November 2015.