DISH Network Reports Third Quarter 2022 Financial Results

Rhea-AI Summary

DISH Network Corporation reported a revenue of $4.10 billion for Q3 2022, a decline from $4.45 billion in Q3 2021. Net income was $412 million, down from $557 million year-over-year, with diluted earnings per share at $0.65 compared to $0.88 in the previous year. Pay-TV subscribers rose by approximately 30,000 to reach 10.02 million, while retail wireless subscribers increased by about 1,000 to 8.01 million.

Positive

• Increased net pay-TV subscribers by approximately 30,000 in Q3 2022.
• Retail wireless subscribers increased by approximately 1,000 in Q3 2022.

Negative

• Revenue decreased by $350 million from Q3 2021.
• Net income fell by $145 million year-over-year.
• Diluted EPS declined by $0.23 compared to the same quarter last year.

ENGLEWOOD, Colo., Nov. 2, 2022 /PRNewswire/ -- DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $4.10 billion for the quarter ending September 30, 2022, compared to $4.45 billion for the corresponding period in 2021.

Net income attributable to DISH Network totaled $412 million for the third quarter 2022, compared to $557 million for the year-ago quarter.

Diluted earnings per share were $0.65 for the third quarter, compared to $0.88 per share during the same period in 2021. 

Pay-TV

Net pay-TV subscribers increased approximately 30,000 in the third quarter, compared to a net decrease of approximately 13,000 in the year-ago quarter.

The company closed the quarter with 10.02 million pay-TV subscribers, including 7.61 million DISH TV subscribers and 2.41 million SLING TV subscribers.

Wireless

Retail wireless net subscribers increased by approximately 1,000 in the third quarter, compared to a net decrease of 121,000 in the year-ago quarter.

The company closed the quarter with 8.01 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 September 30, 2022, filed today with the Securities and Exchange Commission. DISH Network will host its third quarter 2022 financial results conference call today at noon ET.

Participant conference numbers: (800) 289-0459 (U.S.) and (323) 794-2558; participant passcode: 823723.

A webcast replay will be available on DISH's Investor Relations website at http://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 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	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021	Q4 2020
Other Data:
Pay-TV subscribers, as of period end (in millions)	10.018	9.988	10.245	10.707	10.980	10.993	11.060	11.290
DISH TV subscribers, as of period end (in millions)	7.607	7.791	7.993	8.221	8.424	8.554	8.686	8.816
Sling TV subscribers, as of period end (in millions)	2.411	2.197	2.252	2.486	2.556	2.439	2.374	2.474
Pay-TV subscriber additions (losses), net (in millions)	0.030	(0.257)	(0.462)	(0.273)	(0.013)	(0.067)	(0.230)	(0.133)
DISH TV subscriber additions (losses), net (in millions)	(0.184)	(0.202)	(0.228)	(0.203)	(0.130)	(0.132)	(0.130)	(0.149)
Sling TV subscriber additions (losses), net (in millions)	0.214	(0.055)	(0.234)	(0.070)	0.117	0.065	(0.100)	0.016
Pay-TV ARPU	$  102.07	$  101.30	$     99.44	$      97.53	$      96.31	$      96.32	$      93.63	$      94.47
DISH TV subscriber additions, gross (in millions)	0.170	0.156	0.159	0.200	0.224	0.201	0.210	0.235
DISH TV churn rate	1.53 %	1.51 %	1.59 %	1.61 %	1.39 %	1.29 %	1.30 %	1.44 %
DISH TV SAC	$    1,029	$       980	$     1,088	$         789	$         824	$         890	$         790	$         842
Wireless subscribers, as of period end (in millions)*	8.007	7.867	8.203	8.546	8.774	8.895	8.894	9.055
Wireless subscriber additions, gross (in millions)	0.891	0.793	0.796	0.826	0.888	0.944	1.032	0.989
Wireless subscriber additions (losses), net (in millions)	0.001	(0.210)	(0.343)	(0.245)	(0.121)	(0.201)	(0.161)	(0.363)
Wireless ARPU	$    37.64	$    37.90	$     37.72	$      38.76	$      39.25	$      39.10	$      38.89	$      38.32
Wireless churn rate	4.28 %	4.39 %	4.64 %	4.95 %	4.67 %	4.33 %	4.44 %	4.88 %
* 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

FAQ

What were DISH Network's Q3 2022 earnings results?

DISH Network reported a revenue of $4.10 billion and net income of $412 million for Q3 2022.

How many subscribers does DISH Network have?

As of Q3 2022, DISH Network has 10.02 million pay-TV subscribers and 8.01 million retail wireless subscribers.

What is DISH Network's diluted EPS for Q3 2022?

The diluted earnings per share (EPS) for DISH Network in Q3 2022 was $0.65.

What were the financial highlights for DISH Network in Q3 2022?

DISH reported a revenue decrease of $350 million, net income decline of $145 million, and an increase of 30,000 pay-TV subscribers.

When did DISH Network report its Q3 2022 results?

DISH Network reported its Q3 2022 financial results on November 2, 2022.