DISH Network Reports Second Quarter 2023 Financial Results
- DISH Network reported revenue of $3.91 billion for Q2 2023, compared to $4.21 billion in Q2 2022.
- Net income attributable to DISH Network was $200 million for Q2 2023, compared to $523 million in the year-ago quarter.
- Pay-TV subscribers decreased by approximately 294,000 in Q2 2023, compared to a decrease of approximately 257,000 in the year-ago quarter.
- The company closed the quarter with 8.90 million pay-TV subscribers, including 6.90 million DISH TV subscribers and 2.00 million SLING TV subscribers.
- Retail wireless net subscribers decreased by approximately 188,000 in Q2 2023, compared to a net decrease of 210,000 in the year-ago quarter.
- The company closed the quarter with 7.73 million retail wireless subscribers.
- Diluted earnings per share were $0.31 for Q2 2023, compared to $0.82 per share in the same period last year.
Net income attributable to DISH Network totaled
Diluted earnings per share were
Pay-TV
Net pay-TV subscribers decreased approximately 294,000 in the second quarter, compared to a decrease of approximately 257,000 in the year-ago quarter.
The company closed the quarter with 8.90 million pay-TV subscribers, including 6.90 million DISH TV subscribers and 2.00 million SLING TV subscribers.
Wireless
Retail wireless net subscribers decreased by approximately 188,000 in the second quarter, compared to a net decrease of 210,000 in the year-ago quarter.
The company closed the quarter with 7.73 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 June 30, 2023, filed today with the Securities and Exchange Commission.
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
Quarterly Metrics | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
Other Data: | ||||||||
Pay-TV subscribers, as of period end (in millions) | 8.904 | 9.198 | 9.750 | 10.018 | 9.988 | 10.245 | 10.707 | 10.980 |
DISH TV subscribers, as of period end (in millions) | 6.901 | 7.098 | 7.416 | 7.607 | 7.791 | 7.993 | 8.221 | 8.424 |
Sling TV subscribers, as of period end (in millions) | 2.003 | 2.100 | 2.334 | 2.411 | 2.197 | 2.252 | 2.486 | 2.556 |
Pay-TV subscriber additions (losses), net (in millions) | (0.294) | (0.552) | (0.268) | 0.030 | (0.257) | (0.462) | (0.273) | (0.013) |
DISH TV subscriber additions (losses), net (in millions) | (0.197) | (0.318) | (0.191) | (0.184) | (0.202) | (0.228) | (0.203) | (0.130) |
Sling TV subscriber additions (losses), net (in millions) | (0.097) | (0.234) | (0.077) | 0.214 | (0.055) | (0.234) | (0.070) | 0.117 |
Pay-TV ARPU | $ 104.07 | $ 102.71 | $ 102.08 | $ 102.07 | $ 101.30 | $ 99.44 | $ 97.53 | $ 96.31 |
DISH TV subscriber additions, gross (in millions) | 0.120 | 0.113 | 0.149 | 0.170 | 0.156 | 0.159 | 0.200 | 0.224 |
DISH TV churn rate | 1.51 % | 1.98 % | 1.51 % | 1.53 % | 1.51 % | 1.59 % | 1.61 % | 1.39 % |
DISH TV SAC | $ 1,169 | $ 1,055 | $ 1,081 | $ 1,029 | $ 980 | $ 1,088 | $ 789 | $ 824 |
Wireless subscribers, as of period end (in millions)* | 7.725 | 7.913 | 7.983 | 8.007 | 7.867 | 8.203 | 8.546 | 8.774 |
Wireless subscriber additions, gross (in millions) | 0.711 | 0.785 | 0.938 | 0.891 | 0.793 | 0.796 | 0.826 | 0.888 |
Wireless subscriber additions (losses), net (in millions) | (0.188) | (0.081) | (0.024) | 0.001 | (0.210) | (0.343) | (0.245) | (0.121) |
Wireless ARPU | $ 36.37 | $ 36.43 | $ 37.61 | $ 37.64 | $ 37.90 | $ 37.72 | $ 38.76 | $ 39.25 |
Wireless churn rate | 4.54 % | 4.24 % | 4.57 % | 4.28 % | 4.39 % | 4.64 % | 4.95 % | 4.67 % |
* During the third quarter of 2022, T-Mobile transferred approximately 139,000 wireless subscribers to DISH representing all Boost-branded customers of former Sprint affiliates Shentel and Swiftel, as well as Boost-branded customers who were previously part of the California Public Utilities Commission CARE program. The 139,000 subscribers are included in DISH's ending Wireless subscriber count and excluded from DISH's gross new Wireless subscriber activations. In addition, during the second quarter of 2022, DISH removed approximately 126,000 subscribers from its ending Wireless subscriber count representing wireless subscribers who did not migrate off T-Mobile's CDMA Network prior to the shutdown. The effect of the removal of the 126,000 subscribers was excluded from the calculation of DISH's net Wireless subscriber additions/losses and Wireless churn rate. | ||||||||
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SOURCE DISH Network Corporation
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