Satellite broadcaster Dish Network posted profit and revenue gains for last quarter, beating Wall Street estimates and seeing its stock pop more than 3% in early trade. It reversed course and was trading lower after the open in a down market, off nearly 2%.
Revenue totaled $4.6 billion for the quarter, up from $3.24 billion the year before. Diluted earnings per share came in at $1.24 for the fourth quarter, compared with $0.69. Net income was $733 million versus $389 million from the year-ago quarter.
Net pay TV subscribers fell by approximately 133,000 in the fourth quarter – still heading down but narrowed compared to a decrease of approximately 194,000 in the year-ago quarter. The company said it ended the quarter with 11.29 million pay TV subs, including 8.82 million at Dish TV and 2.47 million for Sling TV.
Retail wireless net subscribers decreased by approximately 363,000 in the fourth quarter, compared to a net decrease of 212,000 in the third quarter, ending the year with close to 9.1 million retail wireless subs.
As it builds out its wireless business in 5G, which it considers its next frontier, the company noted in its year-end filing it’s invested over $11 billion to acquire wireless spectrum licenses and related assets and made over $10 billion in non-controlling investments — for a total of over $21 billion.
Last summer, Dish acquired Sprint’s prepaid wireless business from T-Mobile as part of a merger between the telecom giants.
Dish is holding a call at noon today discuss the numbers.
"network" - Google News
February 22, 2021 at 07:16PM
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Dish Network Q4 Sales, Profit Beat Street, Pay TV Subscriber Losses Narrow From Year Earlier - Deadline
"network" - Google News
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