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Dish Loses More Subscribers and Misses on Revenue

The Dish Network Corp. logo is displayed on a hard hat during a installation in Paramount, California, U.S., on Tuesday, November 3, 2015. Photographer: Patrick T. Fallon/BloombergThe Dish Network Corp. logo is displayed on a hard hat during a installation in Paramount, California, U.S., on Tuesday, November 3, 2015. Photographer: Patrick T. Fallon/Bloomberg
The Dish Network logo is displayed on a hard hat during an installation in Paramount, Calif.Patrick T. Fallon — Bloomberg via Getty Images

U.S. satellite TV provider Dish Network Corp (DISH) reported quarterly revenue below analysts’ estimates as it lost more subscribers than expected in its core pay-TV business.

The company lost 23,000 net pay-TV subscribers in the quarter, more than the analysts’ average estimate of a loss of 13,100 customers, according to market research firm FactSet StreetAccount.

The pay-TV operator had gained about 35,000 subscribers in the year-earlier period.

Dish, which is grappling with subscriber losses like other pay-TV providers, has been increasing rates and trying to lure young viewers to its cheaper $20-per-month Sling TV online streaming service.

Average revenue per user in the company’s pay-TV business rose to $87.94 from $85.73.

Net income attributable to Dish rose to 389 million, or 84 cents per share, for the first quarter ended March 31 from $351 million, or 76 cents per share, a year earlier.

Revenue rose to $3.79 billion from $3.72 billion last year.

Analysts on an average expected earnings of 62 cents per share and revenue of $3.8 billion, according to Thomson Reuters I/B/E/S.