DISH Network (DISH) Tops Q3 EPS by 17c, Revenues Beat

DISH Network (NASDAQ: DISH) reported Q3 EPS of $0.86, $0.17 better than the analyst estimate of $0.69. Revenue for the quarter came in at $4.53 billion versus the consensus estimate of $3.56 billion.

Reported revenue totaling $4.53 billion for the quarter ending September 30, 2020, compared to $3.17 billion for the corresponding period in 2019.

Net income attributable to DISH Network totaled $505 million for the third quarter 2020, compared to $353 million from the year-ago quarter. Diluted earnings per share were $0.86 for the third quarter, compared to $0.66 per share during the same period in 2019.

Pay-TV

Net pay-TV subscribers increased approximately 116,000 in the third quarter, compared to an increase of approximately 148,000 in the year-ago quarter.

The company closed the quarter with 11.42 million pay-TV subscribers, including 8.96 million DISH TV subscribers and 2.46 million SLING TV subscribers.

Wireless

DISH Network completed the acquisition of the Boost Mobile business on July 1, 2020, and acquired more than 9 million retail wireless subscribers as a result. DISH currently operates its wireless business as a mobile virtual network operator (MVNO).

Retail wireless net subscribers decreased by approximately 212,000 in the third quarter.

The company closed the quarter with 9.42 million retail wireless subscribers.

Year-to-Date Review

DISH Network's 2020 revenue through the third quarter totaled $10.94 billion, compared to $9.57 billion in revenue from the same period last year. In the first nine months of 2020, net income attributable to DISH Network totaled $1.03 billion, compared with $1.01 billion during the same period last year.

Diluted earnings per share were $1.77 for the first nine months of 2020, compared with $1.91 during the same period in 2019.

For earnings history and earnings-related data on DISH Network (DISH) click here.

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