DISH Network posts higher quarterly profit

NEW YORK, May 12 (Reuters) - Satellite television operator DISH Network Corp (DISH.O: Quote, Profile, Research, Stock Buzz) on Monday posted a higher first quarter profit but reported in drop in subscribers net additions.

Net profit was $258.6 million, or 57 cents a share, compared with $157 million, or 35 cents a share a year ago.

Revenue rose 7.5 percent to $2.84 billion during the quarter.

DISH Network, formerly known as EchoStar Corp, is the second largest U.S. satellite TV operator with a little less than 14 million subscribers. It competes with DIRECTV Group (DTV.O: Quote, Profile, Research, Stock Buzz). (Reporting by Yinka Adegoke)