Dish Shares Drop After Pay TV Subscriber Loss Weigh On Q1, Widens Operating Losses

DISH Network Corp (NASDAQ: DISH) reported a first-quarter FY23 revenue decline of 8.6% year-on-year to $3.96 billion, missing the consensus estimate of $4.06 billion.
The net decrease primarily resulted from the decline in revenue from its Pay-TV Wireless and Wireless segments.
Net pay TV subscribers decreased by 552,000 in Q1 compared to a net 462,000 decline in Q1 FY22.
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DISH closed Q1 FY23 with 9.20 million Pay-TV subscribers, including 7.10 million DISH TV subscribers and 2.10 million SLING TV subscribers.
Retail wireless net subscribers decreased by 81,000 in Q1 FY23 compared to a net decrease of 343,000 in Q1 FY22.
DISH closed Q1 FY23 with 7.91 million retail wireless subscribers.
Operating income declined to $323.4 million, down from $550.4 million a year ago.
EPS of $0.35 missed the consensus estimate of $0.36.
DISH Price Action: DISH shares traded lower by 4.49% at $6.80 premarket on the last check Monday.

Why DISH Shares Are Trading Lower Premarket Today