DISH Network Reports 2020 Q4 Results Above Expectations

DISH Network Corp. (NASDAQ:DISH) has been around for nearly 40 years. It started operating as a small retail store named EchoStar in 1980, initially selling direct-to-home satellite TV products and services. In 1996, the company launched its satellite television service called Dish Network that became increasingly popular in the U.S. in a short span of time. In 2007, the company split its technology and infrastructure business under the EchoStar name, while the direct-broadcast satellite television business was renamed DISH Network.

The company on Monday announced its financial results for the fourth quarter above expectations. It reported earnings of $733 million, or $1.24 per share for the three months ended Dec. 31, significantly higher than $0.69 per share in the comparable period of 2019. Revenue climbed 41 percent on a year-over-year basis to $4.56 billion. Analysts on average were expecting DISH to report earnings of 78 cents per share on revenue of $4.54 billion.

If we look at the subscribers’ reduction pace, net pay-TV subscribers in the quarter fell by nearly 133,000, as compared to a drop of 194,000 in the same period of 2019. Overall, DISH ended the quarter with approx. 11.29 million pay-TV subscribers.

Comparatively, wireless net subscribers decreased by about 363,000 in Q4. The number of departing subscribers was higher when compared to a decline of 212,000 in Q3. Overall, the total wireless subscribers stood at approx. 9.06 million at the end of the fourth quarter.

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DISH shares have been fluctuating on heavy volume since Monday morning after the company released its quarterly results. The stock has been on a roller coaster ride in recent months. Its share price has declined nearly 12 percent over the past year.