DISH Shares Fall On Q3 Earnings Miss

DISH Network Corp DISH reported a third-quarter FY21 revenue decline of 1.8% year-on-year to $4.45 billion, at par with the consensus.
Segments: Pay-TV subscribers and related revenue was flat at $3.2 billion. Wireless services and related revenue were $1.04 billion, down 4.1% Y/Y. Pay-TV equipment sales and other revenue fell 12% Y/Y to $44.9 million, and Wireless equipment sales and other revenue fell 25.8% Y/Y to $192 million.
Drivers: Net Pay-TV subscribers decreased 13,000 in Q3 FY21, compared to a net 116,000 increase in Q3 FY20.
DISH closed Q3 with 10.98 million Pay-TV subscribers, including 8.42 million DISH TV subscribers and 2.56 million SLING TV subscribers.
Retail wireless net subscribers decreased 121,000 in Q3 FY21 compared to a net decrease of 212,000 in Q3 FY20.
DISH closed Q3 with 8.77 million retail wireless subscribers.
EPS of $0.88 missed the consensus of $0.91.
The company held $5.2 billion in cash and equivalents. It generated $3.3 billion in operating cash flow during the nine months ended September 30.
Price Action: DISH shares traded lower by 1.37% at $42.50 in the premarket session on the last check Thursday.