Dish Networks (DISH) shares fell about 9% in early Monday trade after the company reported weaker-than-expected results for the third quarter.
The company reported a loss per share of 26 cents, much worse than the analysts' estimate that was looking for a profit per share of 11 cents. Revenue for the quarter came in at $3.7 billion versus the consensus estimate of $3.82 billion.
This way, DISH shifted from a net income of $412 million in the same period last year to a net loss of $139 million.
Furthermore, there was a noticeable shift in the number of net pay-TV subscribers. In the third quarter, there was a decrease of approximately 64,000 subscribers, in contrast to a net increase of around 30,000 during the same quarter in the previous year.
The company concluded the quarter with a total of 8.84 million pay-TV subscribers. This figure comprises 6.72 million DISH TV subscribers and 2.12 million SLING TV subscribers.