Is DISH Networks'
Revenue in the fourth quarter rose 13%, to $3.63 billion, while net income was $313 million, or $0.70 per share. For the full year, revenue came out to $14.05 billion, with earnings of $1.52 billion, or $3.39 per share.
However, the real story is in the subscriber digits. The company gained roughly 22,000 net subscribers during the quarter, which handily topped the Street's estimates of adding just 5,000 subscribers. The quarter's gains reverse a couple of back-to-back losses. CEO Joe Clayton said, "By introducing new Blockbuster-branded services, we've begun to turn the tide in subscriber losses while continuing to face increased competitive pressures."
DISH gained 58,000 net subscribers in the first quarter, only to lose 135,000 in the second quarter and 111,000 in the third. All of those figures add up to a loss of 166,000 net subscribers for the full year, with DISH's total subscriber base closing out the year just shy of 14 million. That's a big drop-off from the 33,000 subscribers gained in fiscal 2010.
Other service providers have also been reporting slower losses, giving hope that cord-cutting in favor of Web streaming may be on the decline. Time Warner Cable
Even as DISH hopes to take on Netflix
DISH still has high hopes of using all that spectrum it's sitting on to launch a 4G wireless broadband network, but is still waiting on FCC clearance. In the meantime, only time will tell if this quarter's subscriber additions are part of a larger trend or just a speed bump on the way down.
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Fool contributor Evan Niu owns shares of Verizon Communications and Amazon.com, but he holds no other position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of Amazon.com. Motley Fool newsletter services have recommended buying shares of Amazon.com and Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.