DISH Network has been making a lot of news lately for their massive spectrum holdings and the upcoming 2020 deadline set by the SEC for DISH to utilize them. This week, however, DISH is making headlines for an entirely different reason.
DISH Network just released their latest profit reports, and they’re significantly better than the projections. As a result, the broadcasting company saw their shares jump an impressive 15% overnight.
DISH exceed projections by a rather substantial amount. Thomson Reuters expected DISH to post quarter earnings per share of about 71 cents. In actuality, DISH’s quarter earnings per share were 83 cents.
Not only did DISH Network’s share value go up, but they also lost less subscribers during that quarter then they were expected to. Analysts expected DISH to lose around 235,000 subscribers during that quarter. As it turns out, DISH only lost 192,000. Yes, DISH still lost subscribers, but that’s par for the course in today’s streaming techscape for traditional pay-TV broadcasters.
It’s also worth noting DISH Network’s increasing presence in the streaming world with their Sling TV streaming service. During that same quarter Sling TV added about 41,000 subscribers, though that was less than the analyst projected 68,000.
Of course, all of this is secondary to DISH Network’s spectrum holdings. DISH Chief Executive W. Erik Carlson spoke on a conference call with analysts assuring them that the company is on track to launch their IoT network by March 2020, the SEC deadline. Only time will tell whether that is actually true or not.
Sources:
https://www.cnbc.com/2018/08/03/dish-network-shares-rise-8-percent-after-pay-tv-company-loses-less-sub.html
