Dish Network 2Q Earnings Below Expectations As Subscriptions Fall

The big questions for Dish Network have more to do with its mysterious plans for Blockbuster and the massive amount of spectrum it has been acquiring than how well it did in 2Q. But until Chairman Charlie Ergen unveils his strategy,all the Street has to go on is how well the No. 2 satellite company is performing. And the 2Q numbers are mixed, at best. The company reported net earnings of $334.8M, up 30.3% vs the period last year, on revenues of $3.59B, up 13.3%. The revenue figure includes nearly $254M from Blockbuster. Yet Dish earnings, at 75 cents a share, missed analysts' consensus estimate of 79 cents -- although revenues beat the $3.4B target. Meanwhile Dish lost 135,000 subscribers, ending with 14.06M. "As we look forward to the second half of the year, we will focus on commercializing our technology, re-energizing our distribution channels and strengthening our brand image," says Dish Network CEO Joe Clayton. The company says it will freeze consumer prices through Jan. 2013.