DISH Network Reports Third Quarter 2019 Financial Results

ENGLEWOOD, Colo., Nov. 7, 2019 /PRNewswire/ -- DISH Network Corporation (NASDAQ: DISH) today reported revenue totaling $3.17 billion for the quarter ending September 30, 2019, compared to $3.40 billion for the corresponding period in 2018.

Net income attributable to DISH Network totaled $353 million for the third quarter 2019, compared to net income of $432 million from the year-ago quarter. Diluted earnings per share for the quarter ending September 30, 2019 were $0.66, compared with $0.82 during the same period in 2018.

The company closed the third quarter with 12.18 million total Pay-TV subscribers, including 9.49 million DISH TV subscribers and 2.69 million Sling TV subscribers.

Net pay-TV subscribers increased approximately 148,000 subscribers in the third quarter, compared to a decline of approximately 341,000 in the third quarter 2018.

Year-to-Date Review
DISH Network's 2019 year-to-date revenue totaled $9.57 billion, compared to $10.31 billion in revenue from the same period last year. In the first nine months of 2019, net income attributable to DISH Network totaled $1.01 billion, compared with $1.24 billion during the same period last year.

Diluted earnings per share were $1.91 for the first nine months of 2019, compared with $2.35 during the same period in 2018.

Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarter ended September 30, 2019 filed today with the Securities and Exchange Commission.

 

Includes:
Addition of approximately 148,000 net Pay-TV subscribers
Loss of approximately 66,000 net DISH TV subscribers
Addition of approximately 214,000 net Sling TV subscribers
Pay-TV ARPU of $85.29
Gross new DISH TV subscriber activations of approximately 416,000

 

DISH's gains in Sling TV (streaming) have certainly helped offset their losses over the past few years on the satellite side. This quarter's low level of satellite subscriber loss and higher level of Sling TV gain (more net customers gained in 3Q than in all of 2018) make for a nice trend - satellite losses leveling off. Projected through the end of the year:

(DISH TV satellite subscribers as the lower red line. Total PAY TV including Sling TV as the upper blue line.)


Meanwhile AT&T|DIRECTV is not going the right direction. Heavy subscriber loss on the satellite side (now reported with numbers combined with UVERSE) and no offsetting gains on the streaming side. Projected through the end of the year:

(DIRECTV Satellite starting in 1994 with the total DTV+UVERSE starting in 2006. DTV satellite was not reported separately in 2019. The lower light blue line is UVERSE alone. The lower green line is DIRECTV NOW/ATT NOW streaming.)