DISH Network reports third quarter 2021 financial results

Rhea-AI Summary

DISH Network reported $4.45 billion in revenue for Q3 2021, down from $4.53 billion in Q3 2020. Net income rose to $557 million from $505 million year-over-year. Diluted earnings per share increased to $0.88, compared to $0.86 in 2020. The company saw a decrease of approximately 13,000 Pay-TV subscribers, bringing the total to 10.98 million, and a net decrease of 121,000 retail wireless subscribers, totaling 8.77 million at quarter-end. Year-to-date revenue reached $13.43 billion, up from $10.94 billion in the prior year.

Positive

• Net income increased to $557 million in Q3 2021, up from $505 million in Q3 2020.
• Diluted earnings per share rose to $0.88, compared to $0.86 in the same period last year.
• Year-to-date revenue grew to $13.43 billion, up from $10.94 billion year-over-year.

Negative

• Revenue decreased to $4.45 billion in Q3 2021 from $4.53 billion in Q3 2020.
• Pay-TV subscribers decreased by approximately 13,000, contrasting with an increase of 116,000 in the prior year.
• Wireless subscribers decreased by approximately 121,000, benefitting from a lesser decline compared to 212,000 in the previous year.

ENGLEWOOD, Colo., Nov. 4, 2021 /PRNewswire/ -- DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $4.45 billion for the quarter ending September 30, 2021, compared to $4.53 billion for the corresponding period in 2020.

Net income attributable to DISH Network totaled $557 million for the third quarter 2021, compared to $505 million from the year-ago quarter.

Diluted earnings per share were $0.88 for the third quarter, compared to $0.86 per share during the same period of 2020.

Pay-TV
Net Pay-TV subscribers decreased approximately 13,000 in the third quarter, compared to a net increase of approximately 116,000 in the year-ago quarter.

The company closed the quarter with 10.98 million Pay-TV subscribers, including 8.42 million DISH TV subscribers and 2.56 million SLING TV subscribers.

Wireless
Retail wireless net subscribers decreased approximately 121,000 in the third quarter, compared to a net decrease of 212,000 in the year-ago quarter.

The company closed the quarter with 8.77 million retail wireless subscribers.

Year-to-Date Review
DISH Network's 2021 revenue through the third quarter totaled $13.43 billion, compared to $10.94 billion in revenue from the same period last year. In the first nine months of 2021, net income attributable to DISH Network totaled $1.86 billion, compared with $1.03 billion during the same period last year.

Diluted earnings per share were $2.93 for the first nine months of 2021, compared with $1.77 during the same period last year.

Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarter ended September 30, 2021, filed today with the Securities and Exchange Commission. DISH Network will host its third quarter 2021 financial results conference call today at noon ET.

Participant conference numbers: (888) 378-4398 (U.S.) and (720) 543-0210, participant passcode: 708044.

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 200 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

SOURCE DISH Network Corporation

 

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SOURCE DISH Network Corporation

FAQ

What were DISH Network's Q3 2021 earnings results?

DISH Network reported Q3 2021 revenue of $4.45 billion, a net income of $557 million, and diluted earnings per share of $0.88.

How many Pay-TV subscribers does DISH have as of September 30, 2021?

As of September 30, 2021, DISH Network had approximately 10.98 million Pay-TV subscribers.

What is DISH Network's future revenue outlook?

Year-to-date revenue for DISH Network in 2021 reached $13.43 billion, indicating a growth compared to the previous year's $10.94 billion.