DISH Posts Mixed Q3 Earnings, Proposes Raising $2B Via Institutional Debt

DISH Network Corp DISH reported a third-quarter FY22 revenue decline of 8% year-on-year to $4.095 billion, missing the consensus of $4.150 billion.
The net decrease primarily resulted from the decline in revenue from its Wireless and Pay-TV segments.
Drivers: Net Pay-TV subscribers increased by 30,000 in Q3 FY22, compared to a net 13,000 decrease in Q3 FY21.
DISH closed Q3 with 10.02 million Pay-TV subscribers, including 7.61 million DISH TV subscribers and 2.41 million SLING TV subscribers.
Retail wireless net subscribers increased by 1,000 in Q3 FY22 compared to a net decrease of 121,000 in Q3 FY21.
DISH closed Q3 with 8.01 million retail wireless subscribers.
Operating income declined 40.5% Y/Y to $427 million.
EPS of $0.65 beat the consensus of $0.56.
Debt Offering: DISH plans to offer a $2 billion aggregate principal amount of its senior secured notes via institutional offering.
The net proceeds of the offering will serve general corporate purposes, including the buildout of wireless infrastructure.
Price Action: DISH shares traded higher by 1.13% at $15.23 on the last check Wednesday.