Shares of DISH Network (NASDAQ:DISH) surged Friday, climbing as much as 14.3%. At 3:55 p.m. EDT, shares were up 13.4%.
This stock's gain follows the company's second-quarter results, which featured better-than-expected revenue and earnings per share, as well as lower-than-expected satellite subscriber losses.
DISH reported revenue of $3.46 billion, down from $3.64 billion in the year-ago quarter. The company said its subscriber-related revenue was $3.42 billion, down from $3.61 billion in the year-ago quarter.
EPS for the quarter was $0.83, up from $0.09 in the year-ago quarter. On average, analysts were expecting EPS of $0.71 on total revenue of $3.44 billion.
DISH lost 192,000 satellite subscribers, below a consensus analyst forecast for a decline in satellite subscribers of 235,000.
While lower-than-expected satellite subscriber losses will help better fund DISH's expansion in internet TV, it's worth noting that DISH's streaming service, Sling TV, added fewer subscribers than expected. Sling TV subscriber additions during the quarter were 41,000, below a consensus analyst estimate for 68,000.
Investors will want to keep a close eye on Sling's subscriber growth, looking for healthy additions in the coming quarters.