Dish Stock Tanks After Mixed Q3, Subscribers Drop, CEO Departure Update

DISH Network Corp DISH reported third-quarter revenue of $3.70 billion, missing the consensus of $3.72 billion. 

EPS of $0.26 loss, down from $0.65 Y/Y, missing the consensus of $0.04.

Also Read: DISH Gets a Lifeline As Court Approves Extended Deadline for T-Mobile Airwaves Purchase

Net pay-TV subscribers decreased by approximately 64,000 in the quarter, compared to an increase of 30,000 in the year-ago quarter.

The company closed the quarter with 8.84 million pay-TV subscribers.

Retail wireless net subscribers decreased by approximately 225,000 in the quarter, compared to a net increase of 1,000 in the year-ago quarter.

Dish closed the quarter with 7.50 million retail wireless subscribers.

The Q4 consensus revenue and EPS are $3.81 billion and $0.12.

On November 3, 2023, W. Erik Carlson notified DISH that he intends to resign as the CEO effective November 12, 2023. 

Carlson will remain on the board of directors of DISH through the closing of the previously announced merger between DISH and EchoStar Corporation. 

 DISH intends to work with EchoStar to appoint Hamid Akhavan, the current CEO of EchoStar, to the additional post of CEO of DISH, effective as of November 13, 2023. 

Price Action: DISH shares are trading lower by 10.20% at $4.93 premarket on the last check Monday.