DISH Network pay TV subscribers up 30,000 in 3Q 2022

DISH Network Reports Third Quarter 2022 Financial Results

ENGLEWOOD, Colo. — 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.

Quarterly Metrics

                          Q3 2022  Q2 2022  Q1 2022  Q4 2021  Q3 2021  Q2 2021  Q1 2021  Q4 2020
                          -------  -------  -------  -------  -------  -------  -------  -------
Subscribers, as of period end (in millions)
 Pay-TV                    10.018    9.988   10.245   10.707   10.980   10.993   11.060   11.290
  DISH TV                   7.607    7.791    7.993    8.221    8.424    8.554    8.686    8.816
  Sling TV                  2.411    2.197    2.252    2.486    2.556    2.439    2.374    2.474

Subscriber additions (losses), net (in millions)
 Pay-TV                     0.030  (0.257)  (0.462)  (0.273)  (0.013)  (0.067)  (0.230)  (0.133)
  DISH TV                 (0.184)  (0.202)  (0.228)  (0.203)  (0.130)  (0.132)  (0.130)  (0.149)
  Sling TV                  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

Subscriber additions, gross (in millions)
 DISH TV                    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%
 SAC                       $1,029     $980   $1,088     $789     $824     $890     $790     $842

Wireless subscribers (in millions)
 As of period end*          8.007    7.867    8.203    8.546    8.774    8.895    8.894    9.055
 Additions, gross           0.891    0.793    0.796    0.826    0.888    0.944    1.032    0.989
 Additions (losses), net    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%

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, and will remain available for 48 hours.

* 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.