DISH Network reports first quarter 2022 financial results

Rhea-AI Summary

DISH Network Corporation (NASDAQ: DISH) reported Q1 2022 revenue of $4.33 billion, down from $4.50 billion in Q1 2021. Net income fell to $433 million or $0.68 per diluted share, compared to $630 million and $0.99 in the prior year. Pay-TV subscribers decreased by approximately 462,000, totaling 10.24 million subscribers, while retail wireless subscribers also fell by 343,000, bringing the total to 8.20 million.

Positive

• Pay-TV ARPU increased to $99.44 from $97.53 in Q4 2021.

Negative

• Revenue declined by 3.78% year-over-year.
• Net income decreased by 31% compared to Q1 2021.
• Pay-TV subscriber losses were greater than previous year (down 462,000 vs. 230,000), indicating a worsening trend.
• Wireless subscriber losses increased to 343,000 from 161,000 in the prior year.

ENGLEWOOD, Colo., May 6, 2022 /PRNewswire/ -- DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $4.33 billion for the quarter ending March 31, 2022, compared to $4.50 billion for the corresponding period in 2021.

Net income attributable to DISH Network totaled $433 million for the first quarter 2022, compared to $630 million for the year-ago quarter.

Diluted earnings per share were $0.68 for the first quarter, compared to $0.99 per share during the same period in 2021. 

Pay-TV
Net pay-TV subscribers decreased approximately 462,000 in the first quarter, compared to a decrease of approximately 230,000 in the year-ago quarter.

The company closed the quarter with 10.24 million pay-TV subscribers, including 7.99 million DISH TV subscribers and 2.25 million SLING TV subscribers.

Wireless
Retail wireless net subscribers decreased by approximately 343,000 in the first quarter, compared to a net decrease of 161,000 in the year-ago quarter.

The company closed the quarter with 8.20 million retail wireless subscribers.

Additional Details
Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarter ending March 31, 2022, filed today with the Securities and Exchange Commission. DISH Network will host its first quarter 2022 financial results conference call today at 10 a.m. ET.

Participant conference numbers: (800) 289-0720 (U.S.) and (323) 701-0160; Conference ID: 4410103

A live webcast of the earnings call will be available on DISH's Investor Relations website at http://ir.dish.com. A webcast replay will also be available for 48 hours after the call.

DISH also will host an Analyst Day on May 10, 2022, at 4 p.m. ET. A live webcast of the Analyst Day event will be available on DISH's Investor Relations website at http://ir.dish.com.

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 virtualized, O-RAN 5G broadband network. DISH Network Corporation (NASDAQ: DISH) is a Fortune 200 company.

For company information, visit about.dish.com

Quarterly Metrics	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021	Q4 2020	Q3 2020	Q2 2020	Q1 2020
Other Data:
Pay-TV subscribers, as of period end (in millions)	10.245	10.707	10.980	10.993	11.060	11.290	11.423	11.272	11.323
DISH TV subscribers, as of period end (in millions)	7.993	8.221	8.424	8.554	8.686	8.816	8.965	9.017	9.012
Sling TV subscribers, as of period end (in millions)	2.252	2.486	2.556	2.439	2.374	2.474	2.458	2.255	2.311
Pay-TV subscriber additions (losses), net (in millions)	(0.462)	(0.273)	(0.013)	(0.067)	(0.230)	(0.133)	0.116	(0.096)	(0.413)
DISH TV subscriber additions (losses), net (in millions)	(0.228)	(0.203)	(0.130)	(0.132)	(0.130)	(0.149)	(0.087)	(0.040)	(0.132)
Sling TV subscriber additions (losses), net (in millions)	(0.234)	(0.070)	0.117	0.065	(0.100)	0.016	0.203	(0.056)	(0.281)
Pay-TV ARPU	$ 99.44	$ 97.53	$ 96.31	$ 96.32	$ 93.63	$ 94.47	$ 91.79	$ 92.17	$ 88.76
DISH TV subscriber additions, gross (in millions)	0.159	0.200	0.224	0.201	0.210	0.235	0.292	0.268	0.299
DISH TV churn rate	1.59%	1.61%	1.39%	1.29%	1.30%	1.44%	1.41%	1.14%	1.54%
DISH TV SAC	$ 1,088	$    789	$    824	$    890	$    790	$    842	$    864	$    834	$    861
Wireless subscribers, as of period end (in millions)	8.203	8.546	8.774	8.895	8.894	9.055	9.418	-	-
Wireless subscriber additions, gross (in millions)	0.938	1.049	1.098	0.964	1.032	0.989	1.104	-	-
Wireless subscriber additions (losses), net (in millions)	(0.343)	(0.245)	(0.121)	(0.201)	(0.161)	(0.363)	(0.212)	-	-
Wireless ARPU	$ 37.72	$ 38.76	$ 39.25	$ 39.10	$ 38.89	$ 38.32	$ 38.17	-	-
Wireless churn rate	5.11%	4.98%	4.61%	4.32%	4.44%	4.88%	4.64%	-	-

 

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SOURCE DISH Network Corporation

FAQ

What is DISH's revenue for Q1 2022?

DISH Network reported Q1 2022 revenue of $4.33 billion.

What were DISH's earnings per share in Q1 2022?

DISH's diluted earnings per share for Q1 2022 were $0.68.

How many pay-TV subscribers does DISH have as of Q1 2022?

DISH has 10.24 million pay-TV subscribers as of Q1 2022.

What is the total net income for DISH in Q1 2022?

Net income for DISH in Q1 2022 was $433 million.

What was the trend in DISH's wireless subscribers in Q1 2022?

DISH experienced a net decrease of 343,000 wireless subscribers in Q1 2022.