NEW YORK (Reuters) – Dish Network, the second-biggest U.S. satellite television operator, posted higher-than-expected quarterly profit and revenue on Friday, as existing customers spent more on its services.
While Dish lost about 29,000 subscribers in the third quarter, the company generated more revenue from those it retained.
Average monthly revenue per subscriber rose 7 percent, which the company said was because of price increases in February and June 2010 and "changes in the sales mix toward more advanced hardware offerings," like high-definition TV.
Dish has been using deals, like a free HD service it started offering in June, to keep subscribers who had originally signed on for basic packages, as well as to attract customers with higher-end televisions. These customers are then willing to spend more on digital video recorders and on premium TV content, said Barclays Capital analyst James Ratcliffe.
Larger satellite TV rival DirecTV added 174,000 net subscribers in the U.S. during the quarter, showing that customers will pay for premium television despite the competing wide range of free Internet offerings.
Net profit in the quarter was $245 million, or 55 cents per share, up from $81 million, or 18 cents per share, a year earlier. Analysts were looking for 42 cents a share.
Revenue rose 10 percent to $3.21 billion, compared with analysts' expectations of $3.15 billion.
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