Dish Network’s stock drops after a surprise loss and revenue miss, as subscribers fell

Shares of Dish Network Corp.
DISH,
+5.17%
dropped 4.9% in premarket trading Monday, after the satellite TV service swung to surprise a third-quarter loss, as pay-TV and wireless subscribers decline. The company reported a net loss of $139 million, or 26 cents a share, after net income of $412 million, or 65 cents a share, in the year-ago period. The FactSet consensus was for earnings per share of 11 cents. Revenue fell 9.5% to $3.70 billion, below the FactSet consensus of $3.82 billion. Net pay-TV subscribers decreased by 64,000, after increasing 30,000 a year ago, while retail wireless subscribers were down 225,000, after rising by 1,000 last year. Meanwhile, average revenue per pay-TV user increased 3.1% to $105.25, while Dish TV churn was 1.58% vs. 1.53% last year. The stock has tumbled 27.7% over the past three months through Friday, while the S&P 500 has slipped 2.7%.