DISH Network reports fourth quarter, year-end 2020 financial results

Rhea-AI Summary

DISH Network Corporation (NASDAQ: DISH) reported a fourth-quarter revenue of $4.56 billion for the period ending December 31, 2020, up from $3.24 billion in Q4 2019. The net income rose significantly to $733 million or $1.24 per diluted share, compared to $389 million and $0.69 in the prior year. The company ended the year with 11.29 million pay-TV subscribers and 9.06 million retail wireless subscribers, experiencing a reduction in both pay-TV (down 133,000) and wireless subscribers (down 363,000) in Q4.

Positive

• Q4 2020 revenue increased to $4.56 billion from $3.24 billion in Q4 2019.
• Net income rose to $733 million in Q4 2020, up from $389 million in Q4 2019.
• Diluted EPS increased to $1.24, compared to $0.69 in the prior year.

Negative

• Pay-TV subscribers declined by 133,000 in Q4 2020.
• Wireless net subscribers dropped by 363,000 in Q4 2020.

ENGLEWOOD, Colo., Feb. 22, 2021 /PRNewswire/ -- DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $4.56 billion for the quarter ending December 31, 2020, compared to $3.24 billion for the corresponding period in 2019.

Net income attributable to DISH Network totaled $733 million for the fourth quarter 2020, compared to $389 million from the year-ago quarter. Diluted earnings per share were $1.24 for the fourth quarter, compared to $0.69 per share during the same period in 2019. 

Pay-TV
Net pay-TV subscribers decreased approximately 133,000 in the fourth quarter, compared to a decrease of approximately 194,000 in the year-ago quarter.

The company closed the quarter with 11.29 million pay-TV subscribers, including 8.82 million DISH TV subscribers and 2.47 million SLING TV subscribers.

Wireless
Retail wireless net subscribers decreased by approximately 363,000 in the fourth quarter, compared to a net decrease of 212,000 in the third quarter.

The company closed the quarter with 9.06 million retail wireless subscribers.

Full-Year 2020 Review
For the year, DISH reported 2020 total revenue of $15.49 billion, compared to $12.81 billion in 2019.

Net income attributable to DISH Network in 2020 was $1.76 billion, compared to $1.40 billion in 2019. Diluted earnings per share were $3.02 in 2020, compared to $2.60 in 2019.

For additional detail on quarterly metrics, please refer to the attached table.

Detailed financial data and other information are available in DISH Network's Form 10-K for the year ending December 31, 2020, filed today with the Securities and Exchange Commission. DISH Network will host its fourth quarter and year-end 2020 financial results conference call today at noon ET.

Participant conference numbers: (866) 548-4713 (U.S.) and (323) 794-2093, Conference ID: 3326629.

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

 

Quarterly Metrics	Q4 2020	Q3 2020	Q2 2020	Q1 2020	Q4 2019	Q3 2019	Q2 2019	Q1 2019
Pay-TV subscribers, as of period end (in millions)	11.290	11.423	11.272	11.323	11.986	12.180	12.032	12.063
DISH TV subscribers, as of period end (in millions)	8.816	8.965	9.017	9.012	9.394	9.494	9.560	9.369
Sling TV subscribers, as of period end (in millions)	2.474	2.458	2.255	2.311	2.592	2.686	2.472	2.424
Pay-TV subscriber additions (losses), net (in millions)	(0.133)	0.116	(0.096)	(0.413)	(0.194)	0.148	(0.031)	(0.259)
DISH TV subscriber additions (losses), net (in millions)	(0.149)	(0.087)	(0.040)	(0.132)	(0.100)	(0.066)	(0.079)	(0.266)
Sling TV subscriber additions (losses), net (in millions)	0.016	0.203	(0.056)	(0.281)	(0.094)	0.214	0.048	0.007
Pay-TV ARPU	$94.47	$91.79	$92.17	$88.76	$87.02	$85.29	$86.34	$85.03
DISH TV subscriber additions, gross (in millions)	0.235	0.292	0.268	0.299	0.341	0.416	0.348	0.243
DISH TV churn rate	1.44%	1.41%	1.14%	1.54%	1.56%	1.69%	1.48%	1.74%
DISH TV SAC	$842	$864	$834	$861	$850	$827	$786	$828
Wireless subscribers, as of period end (in millions)	9.055	9.418
Wireless subscriber additions, gross (in millions)	0.989	1.104
Wireless subscriber additions (losses), net (in millions)	(0.363)	(0.212)
Wireless ARPU	$38.32	$38.17
Wireless churn rate	4.88%	4.64%

 

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SOURCE DISH Network Corporation

FAQ

What were DISH Network's Q4 2020 earnings results?

DISH Network reported Q4 2020 revenue of $4.56 billion and a net income of $733 million, resulting in diluted EPS of $1.24.

How many subscribers does DISH Network have?

As of Q4 2020, DISH Network had 11.29 million pay-TV subscribers and 9.06 million retail wireless subscribers.

What is DISH Network's stock symbol?

DISH Network is traded under the stock symbol 'DISH' on NASDAQ.

What were the changes in DISH Network's subscriber numbers in Q4 2020?

DISH Network lost approximately 133,000 pay-TV subscribers and 363,000 retail wireless subscribers in Q4 2020.

What is the overall financial performance of DISH Network for 2020?

DISH Network reported a total revenue of $15.49 billion and net income of $1.76 billion for the full year 2020.