DISH Network reports third quarter 2020 financial results

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Nov 06, 2020, 06:02 ET

ENGLEWOOD, Colo., Nov. 6, 2020 /PRNewswire/ -- DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $4.53 billion for the quarter ending September 30, 2020, compared to $3.17 billion for the corresponding period in 2019.

Net income attributable to DISH Network totaled $505 million for the third quarter 2020, compared to $353 million from the year-ago quarter. Diluted earnings per share were $0.86 for the third quarter, compared to $0.66 per share during the same period in 2019.

Pay-TV
Net pay-TV subscribers increased approximately 116,000 in the third quarter, compared to an increase of approximately 148,000 in the year-ago quarter.

The company closed the quarter with 11.42 million pay-TV subscribers, including 8.96 million DISH TV subscribers and 2.46 million SLING TV subscribers.

Wireless
DISH Network completed the acquisition of the Boost Mobile business on July 1, 2020, and acquired more than 9 million retail wireless subscribers as a result. DISH currently operates its wireless business as a mobile virtual network operator (MVNO).

Retail wireless net subscribers decreased by approximately 212,000 in the third quarter.

The company closed the quarter with 9.42 million retail wireless subscribers.

Year-to-Date Review
DISH Network's 2020 revenue through the third quarter totaled $10.94 billion, compared to $9.57 billion in revenue from the same period last year. In the first nine months of 2020, net income attributable to DISH Network totaled $1.03 billion, compared with $1.01 billion during the same period last year.

Diluted earnings per share were $1.77 for the first nine months of 2020, compared with $1.91 during the same period in 2019.

Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarter ending September 30, 2020, filed today with the Securities and Exchange Commission.

DISH Network will host its third quarter 2020 financial results conference call today at noon ET.

Participant conference numbers: (888) 394-8218 (U.S.) and (323) 701-0225, Conference ID: 3275891.

A webcast replay will be available today on DISH's Investor Relations website, ir.dish.com, and will remain available for 48 hours.

About DISH

DISH Network Corporation is a connectivity company. Since 1980, it has served as a disruptive force, driving innovation and value on behalf of consumers. Through its subsidiaries, the company provides television entertainment and award-winning technology to millions of customers with its satellite DISH TV and streaming SLING TV services. In 2020, the company became a nationwide U.S. wireless carrier through the acquisition of Boost Mobile. DISH continues to innovate in wireless, building the nation's first cloud-native, Open RAN-based 5G broadband network. DISH Network Corporation (NASDAQ: DISH) is a Fortune 250 company.

For company information, visit about.dish.com

For more information on DISH TV, visit www.dish.com

For more information on SLING TV, visit news.sling.com

For more information on Boost, visit boostmobile.com

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SOURCE DISH Network Corporation