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DISH Network Reports Second Quarter 2022 Financial Results

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DISH Network Corporation (NASDAQ: DISH) reported Q2 2022 revenue of $4.21 billion, down from $4.49 billion in Q2 2021. Net income decreased to $523 million from $671 million year-over-year, with diluted EPS at $0.82 compared to $1.06 previously. The company lost approximately 257,000 pay-TV subscribers in the quarter, a significant increase from a loss of 67,000 in the same quarter last year. Retail wireless subscribers also decreased by 210,000, ending the period with 7.87 million subscribers.

Positive
  • None.
Negative
  • Q2 2022 revenue decreased to $4.21 billion from $4.49 billion in Q2 2021.
  • Net income fell to $523 million from $671 million year-over-year.
  • Diluted EPS decreased to $0.82 compared to $1.06 in the same quarter last year.
  • Pay-TV subscribers decreased by approximately 257,000, significantly worse than a loss of 67,000 in Q2 2021.
  • Retail wireless net subscribers decreased by approximately 210,000 in Q2 2022.

ENGLEWOOD, Colo., Aug. 3, 2022 /PRNewswire/ -- DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $4.21 billion for the quarter ending June 30, 2022, compared to $4.49 billion for the corresponding period in 2021.

Net income attributable to DISH Network totaled $523 million for the second quarter 2022, compared to $671 million for the year-ago quarter.

Diluted earnings per share were $0.82 for the second quarter, compared to $1.06 per share during the same period in 2021. 

Pay-TV
Net pay-TV subscribers decreased approximately 257,000 in the second quarter, compared to a net decrease of approximately 67,000 in the year-ago quarter.

The company closed the quarter with 9.99 million pay-TV subscribers, including 7.79 million DISH TV subscribers and 2.20 million SLING TV subscribers.

Wireless
Retail wireless net subscribers decreased by approximately 210,000 in the second quarter, compared to a net decrease of 201,000 in the year-ago quarter.

The company closed the quarter with 7.87 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, 2022, filed today with the Securities and Exchange Commission. DISH Network will host its second quarter 2022 financial results conference call today at noon ET.

Participant conference numbers: (800) 289-0720 (U.S.) and (323) 701-0160; Conference ID: 4146227.

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 

Q2 2022

Q1 2022

Q4 2021

Q3 2021

Q2 2021

Q1 2021

Q4 2020

Q3 2020

Q2 2020

Q1 2020












Other Data:











Pay-TV subscribers, as of period end (in millions)

9.988

10.245

10.707

10.980

10.993

11.060

11.290

11.423

11.272

11.323

DISH TV subscribers, as of period end (in millions)

7.791

7.993

8.221

8.424

8.554

8.686

8.816

8.965

9.017

9.012

Sling TV subscribers, as of period end (in millions)

2.197

2.252

2.486

2.556

2.439

2.374

2.474

2.458

2.255

2.311

Pay-TV subscriber additions (losses), net (in millions)

(0.257)

(0.462)

(0.273)

(0.013)

(0.067)

(0.230)

(0.133)

0.116

(0.096)

(0.413)

DISH TV subscriber additions (losses), net (in millions)

(0.202)

(0.228)

(0.203)

(0.130)

(0.132)

(0.130)

(0.149)

(0.087)

(0.040)

(0.132)

Sling TV subscriber additions (losses), net (in millions)

(0.055)

(0.234)

(0.070)

0.117

0.065

(0.100)

0.016

0.203

(0.056)

(0.281)

Pay-TV ARPU

$   101.30

$      99.44

$       97.53

$       96.31

$       96.32

$       93.63

$       94.47

$       91.79

$       92.17

$       88.76

DISH TV subscriber additions, gross (in millions)

0.156

0.159

0.200

0.224

0.201

0.210

0.235

0.292

0.268

0.299

DISH TV churn rate

1.51 %

1.59 %

1.61 %

1.39 %

1.29 %

1.30 %

1.44 %

1.41 %

1.14 %

1.54 %

DISH TV SAC

$        980

$      1,088

$          789

$          824

$          890

$          790

$          842

$          864

$          834

$          861












Wireless subscribers, as of period end (in millions)

7.867

8.203

8.546

8.774

8.895

8.894

9.055

9.418

-

-

Wireless subscriber additions, gross (in millions) 

0.793

0.796

0.826

0.888

0.944

1.032

0.989

1.104

-

-

Wireless subscriber additions (losses), net (in millions)

(0.210)

(0.343)

(0.245)

(0.121)

(0.201)

(0.161)

(0.363)

(0.212)

-

-

Wireless ARPU

$     37.90

$      37.72

$       38.76

$       39.25

$       39.10

$       38.89

$       38.32

$       38.17

-

-

Wireless churn rate

4.39 %

4.64 %

4.95 %

4.67 %

4.33 %

4.44 %

4.88 %

4.64 %

-

-

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/dish-network-reports-second-quarter-2022-financial-results-301598574.html

SOURCE DISH Network Corporation

FAQ

What were DISH Network's Q2 2022 earnings results?

DISH Network reported Q2 2022 revenue of $4.21 billion, net income of $523 million, and diluted EPS of $0.82.

How many pay-TV subscribers did DISH Network lose in Q2 2022?

DISH Network lost approximately 257,000 pay-TV subscribers in Q2 2022.

What is DISH Network's outlook following the Q2 2022 results?

The significant decline in both pay-TV and retail wireless subscribers may raise concerns about future growth and subscriber retention for DISH Network.

How did DISH Network's revenue in Q2 2022 compare to Q2 2021?

DISH Network's revenue decreased from $4.49 billion in Q2 2021 to $4.21 billion in Q2 2022.

What were the key financial metrics for DISH Network in Q2 2022?

Key metrics for Q2 2022 include revenue of $4.21 billion, net income of $523 million, and diluted EPS of $0.82.

DISH Network Corporation

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