The Daily Dish
Echostar (DISH: NASDAQ) is up 0.50 after reporting 3Q earnings this morning. The company reported 22-cents vs. estimates of 0.23, give or take. The sat-guys aren't about EPS however, the metrics are what matter (and, in the case of DISH and DTV (DTV: NYSE) using "metrics" is atypically justifiable).
So... looking at our metrics, Dish added 350k subs, 23% over last year's Q3 and 35k ahead average estimates. Total subs at the end of the period were 10.475, up over 15% from LY. Churn came in at 1.77%, higher than DTV but the gap closed a bit. ARPU was 56.11/mo, somewhat light but up >10% vs. LY. SAC was $588.
Speaking of churn, churn-reducing-software provider TiVo (TIVO: NASDAQ) is taking a steel-chair to the noggin on news that Comcast (CMCSK) and Microsoft (MSFT) will partner on a TiVo "generic" (read: rip-off) on set-top boxes (also, to a lesser extent, this fella's black-mock-t-neck clad opinion).
We're "involved" in TiVo and generally annoyed by that fact, so take it for what it's worth, but the reduction of churn is the fresh-spring of flowing financial goodness for any cable or sat co. It remains the case that no single product or package combination sees less churn than DTV users with TiVo. To date I remain wrong about that fact mattering in terms of TiVo's ability to grow their business.
Dish's conference call is at High-Noon east-coast time. The number is 800 616 6729. For what it's worth, Dish CEO Charlie Ergen does calls better than anyone else I listen to quarterly. Bright, fiesty, candid; I never miss a Dish call, regardless of my book at the time.
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