Dish Network Shows Impressive Profits

Dish Network, which only trails DirecTV as the largest satellite television company in the United States, posted impressive profits in the first quarter of 2009. In total, Dish Network now has more than 13.5 million subscribers across the nation.

With profits of more than $312 million in the first quarter, Dish Network easily beat most predictions by industry experts. Last year, Dish Network’s first quarter profits totaled less than $260 million. From last year to this year revenue also rose — from about $2.85 billion to approximately $2.9 billion.

This good news was well received on the stock market. Dish Network stock on Monday jumped more than 15% to nearly $18.

The nation’s economic slump did have its effects on Dish Network. Although the company was able to add more than 653,000 subscribers in the first quarter, it lost more than 740,000 subscribers during the first quarter. However, with Dish Network able to cut costs in other areas, their total profit was able to show impressive gains.

Dish Network (Image: Flickr)