DISH announced today a net loss of 25,000 customers. The company blamed the loss of subscribers on a combination of economic factors and stiffening competition. Wall Street reacted unfavorably, sending the shares down in early trading. The stock price made up lost ground as the day went on.
Craig Moffett, analyst at Bernstein Research, said:
This is not pretty. It’s the first ever loss of subscribers by a major satellite TV company.
In spite of the shrinking customer base, DISH managed to beat Wall Street expectations with higher than expected second quarter profits.