Dish Network shares rise 15% after subscriber losses are less than expected

  • On Friday Dish Network reported better than expected second-quarter profit results.
  • The company’s stock has underperformed significantly this year as investors grew concerned over its paid television subscriber losses to online streaming services like Netflix.
  • Dish shares are down 37.5 percent year to date through Thursday versus the S&P 500’s 5.8 percent gain.
A Dish Network Corp. field service specialist installs a satellite television system at a residence in Downey, California.
Patrick T. Fallon | Bloomberg | Getty Images
A Dish Network Corp. field service specialist installs a satellite television system at a residence in Downey, California.

Dish Network shares jumped 15 percent after the pay TV company reported better-than-expected profit.

Dish posted June quarter earnings per share of 83 cents versus the Thomson Reuters consensus of 71 cents.

Raymond James analyst Ric Prentiss called the company's earnings results "strong" in a note to clients.

The company lost 192,000 Dish TV subscribers in its second quarter, which was "slightly" better than Prentiss' 200,000 subscriber loss estimate.

The company's stock has underperformed significantly this year as investors worried over its paid television subscriber losses to online streaming services like Netflix.

Dish shares are down 37.5 percent this year through Thursday versus the S&P 500's 5.8 percent gain.