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Nov. 4, 2021, 8:37 a.m. EDT

Dish stock falls after company posts subscriber losses across pay TV and wireless

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By Emily Bary

Dish Network Corp. fell short of profit expectations Thursday as the telecommunications company shed subscribers across its wireless and pay-TV businesses.

Shares were off 0.9% in premarket trading Thursday.

The company reported third-quarter net income of $557 million, or 88 cents a share, up from $505 million, or 86 cents a share, in the year-prior quarter. Analysts tracked by FactSet were expecting 91 cents in earnings per share.

Dish’s /zigman2/quotes/207505872/composite DISH -0.30% revenue declined slightly to $4.45 billion from $4.53 billion, though the revenue total matched the FactSet consensus.

The company saw net pay-TV customers fall by about 13,000 in the third quarter, whereas it posted gains of 116,000 in the year-earlier quarter. Dish finished the quarter with 10.98 million pay-TV subscribers, including 8.42 million using Dish TV and 2.56 million using Sling TV.

In Dish’s wireless business, the company shed a net of roughly 121,000 subscribers during the quarter, whereas it lost about 212,000 in the year-prior quarter. Dish had 8.77 million retail wireless subscribers as of the end of the quarter.

Shares of Dish have risen 33% so far this year as the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.08% has increased 24%.

/zigman2/quotes/207505872/composite
US : U.S.: Nasdaq
$ 36.19
-0.11 -0.30%
Volume: 3.55M
Jan. 14, 2022 4:00p
P/E Ratio
8.69
Dividend Yield
N/A
Market Cap
$19.14 billion
Rev. per Employee
$1.33M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,662.85
+3.82 +0.08%
Volume: 2.52B
Jan. 14, 2022 5:16p
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