DISH Network reports first quarter 2021 financial results

Rhea-AI Summary

DISH Network Corporation (NASDAQ: DISH) reported a significant increase in revenue for Q1 2021, totaling $4.50 billion, up from $3.22 billion in Q1 2020. Net income soared to $630 million compared to $73 million a year prior, leading to diluted earnings per share of $0.99, compared to $0.13 in the previous year. However, the company experienced a net decrease of 230,000 Pay-TV subscribers and 161,000 retail wireless subscribers during the quarter, raising concerns about customer retention.

Positive

• Revenue increased by $1.28 billion year-over-year.
• Net income surged by $557 million compared to Q1 2020.
• Diluted earnings per share rose significantly to $0.99 from $0.13.

Negative

• Net Pay-TV subscribers decreased by 230,000 in Q1 2021.
• Retail wireless subscribers decreased by 161,000 during the same period.

ENGLEWOOD, Colo., April 29, 2021 /PRNewswire/ -- DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $4.50 billion for the quarter ending March 31, 2021, compared to $3.22 billion for the corresponding period in 2020.

Net income attributable to DISH Network totaled $630 million for the first quarter 2021, compared to $73 million from the year-ago quarter.

Diluted earnings per share were $0.99 for the first quarter, compared to $0.13 per share during the same period of 2020. 

Pay-TV
Net Pay-TV subscribers decreased approximately 230,000 in the first quarter, compared to a net decrease of approximately 413,000 in the year-ago quarter.

The company closed the quarter with 11.06 Pay-TV subscribers, including 8.69 million DISH TV subscribers and 2.37 million SLING TV subscribers.

Wireless
Retail wireless net subscribers decreased by approximately 161,000 in the first quarter, compared to a net decrease of 363,000 in the fourth quarter.

The company closed the quarter with 8.89 million retail wireless subscribers.

Additional Details
Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarter ended March 31, 2021, filed today with the Securities and Exchange Commission. DISH Network will host its first quarter 2021 financial results conference call today at 11 a.m. ET.

Participant conference numbers: (866) 548-4713 (U.S.) and (323) 794-2093, Conference ID: 6228572.

A webcast replay will be available today on DISH's Investor Relations website, ir.dish.com, and will remain available for 48 hours.

About DISH

DISH Network Corporation is a connectivity company. Since 1980, it has served as a disruptive force, driving innovation and value on behalf of consumers. Through its subsidiaries, the company provides television entertainment and award-winning technology to millions of customers with its satellite DISH TV and streaming SLING TV services. In 2020, the company became a nationwide U.S. wireless carrier through the acquisition of Boost Mobile. DISH continues to innovate in wireless, building the nation's first cloud-native, Open RAN-based 5G broadband network. DISH Network Corporation (NASDAQ: DISH) is a Fortune 250 company. 

For company information, visit about.dish.com
For more information on DISH TV, visit www.dish.com
For more information on SLING TV, visit news.sling.com
For more information on Boost, visit boostmobile.com
Subscribe to DISH email alerts: http://about.dish.com/alerts
Follow @DISHNews on Twitter: http://www.twitter.com/DISHNews

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SOURCE DISH Network Corporation

FAQ

What were DISH Network's earnings for Q1 2021?

DISH Network reported earnings of $0.99 per share for Q1 2021.

How much revenue did DISH Network generate in Q1 2021?

DISH Network generated $4.50 billion in revenue for the quarter ending March 31, 2021.

What was DISH Network's net income for Q1 2021?

The net income attributable to DISH Network in Q1 2021 was $630 million.

How many Pay-TV subscribers does DISH Network have?

As of March 31, 2021, DISH Network had approximately 11.06 million Pay-TV subscribers.

How did DISH Network's subscriber numbers change in Q1 2021?

DISH Network experienced a decrease of 230,000 Pay-TV subscribers and 161,000 retail wireless subscribers in Q1 2021.