DISH Network Reports First Quarter 2017 Financial Results
DISH Network Corporation today reported revenue totaling $3.68 billion for the quarter ending March 31, 2017, compared to $3.83 billion for the corresponding period in 2016. Subscriber-related revenue for the quarter totaled $3.64 billion, compared to $3.78 billion in subscriber-related revenue for the year-ago period.
Net income attributable to DISH Network totaled $376 million for the quarter ending March 31, 2017, compared to net income of $400 million from the year-ago quarter. Diluted earnings per share for the quarter ending March 31, 2017 were $0.76, compared with $0.86 during the same period in 2016.
During the first quarter, DISH completed a transaction with EchoStar Corporation that transferred certain EchoStar assets and operations to DISH in exchange for DISH's 80 percent economic interest in the Hughes Retail Group that was held in the form of a tracking stock. As the transaction was between entities that are under common control, accounting rules require that the results of the transferred assets and operations be included in our financial statements for all periods presented, including periods prior to the completion of the transaction. This adjustment had no impact on our gross new Pay-TV or broadband subscriber activations, net Pay-TV or broadband subscriber losses or Pay-TV churn rate for all periods presented.