Dish Network reported a third quarter profit aided by higher revenue per user from its core tv business. Its Sling TV streaming service may be losing steam. Shartia Brantley reports.
Dish Network reported better than expected quarterly profit, aided by higher revenue per user from its core-tv business. The company earned $0.42 per share compared to analysts expectations of $0.39 per share. It added broadband subscribers while losing pay-tv subscribers. And its effort to reach cord-cutting millennials with its streaming service Sling TV continues to struggle says Craig Moffett, Founder and Senior Analyst at MoffettNathanson: "The Sling service is sharply decelerating. The idea that it is already sputtering after launch suggests the idea that the public is waiting for the skinny bundle may be simply wrong." Dish is under increasing pressure after the Direct TV and AT&T merger in July, which has allowed the combined company to offer competitive bundled services. Shares of Dish were flat in early trading.