DISH Network Reports Fourth Quarter, Year-end 2022 Financial Results

Thu, February 23, 2023 at 3:05 AM PST·5 min read

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ENGLEWOOD, Colo., Feb. 23, 2023 /PRNewswire/ -- DISH Network Corporation (NASDAQ: DISH) reported revenue totaling $4.04 billion for the quarter ending December 31, 2022, compared to $4.45 billion for the corresponding period in 2021. DISH logo (PRNewsfoto/DISH)Net income attributable to DISH Network totaled $936 million for the fourth quarter 2022, compared to $552 million from the year-ago quarter. Diluted earnings per share were $1.47 for the fourth quarter, compared to $0.87 per share during the same period in 2021.

Pay-TV

Net pay-TV subscribers decreased approximately 268,000 in the fourth quarter, compared to a decrease of approximately 273,000 in the year-ago quarter. The company closed the quarter with 9.75 million pay-TV subscribers, including 7.42 million DISH TV subscribers and 2.33 million SLING TV subscribers.

Wireless

Retail wireless net subscribers decreased by approximately 24,000 in the fourth quarter, compared to a net decrease of 245,000 in the year-ago quarter. The company closed the quarter with 7.98 million retail wireless subscribers.

Full-Year 2022 Review

For the year, DISH reported 2022 total revenue of $16.68 billion, compared to $17.88 billion in 2021.

Net income attributable to DISH Network in 2022 was $2.30 billion, compared to $2.41 billion in 2021. Diluted earnings per share were $3.61 in 2022, compared to $3.79 in 2021. For additional detail on quarterly metrics, please refer to the attached table. Detailed financial data and other information are available in DISH Network's Form 10-K for the year ending December 31, 2022, filed today with the Securities and Exchange Commission.

DISH Network will host its fourth quarter and year-end 2022 financial results conference call today at noon ET.

Participant conference numbers: (877) 612-6725 (U.S.) and (773) 305-6837; Conference ID: 888303.

Participants may also click here to sign in up to 15 minutes before the call starts to receive a phone call that automatically joins them to the earnings call when it begins.

A live webcast will be available on DISH's Investor Relations website at http://ir.dish.com during the call. A webcast replay will also be available for 48 hours after the call.

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 virtualized, O-RAN 5G broadband network. DISH Network Corporation (NASDAQ: DISH) is a Fortune 200 company.

For company information, visit about.dish.com Quarterly Metrics Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021Q2 2021Q1 2021 Other Data: Pay-TV subscribers, as of period end (in millions)9.75010.0189.98810.24510.70710.98010.99311.060DISH TV subscribers, as of period end (in millions)7.4167.6077.7917.9938.2218.4248.5548.686Sling TV subscribers, as of period end (in millions)2.3342.4112.1972.2522.4862.5562.4392.374Pay-TV subscriber additions (losses), net (in millions)(0.268)0.030(0.257)(0.462)(0.273)(0.013)(0.067)(0.230)DISH TV subscriber additions (losses), net (in millions)(0.191)(0.184)(0.202)(0.228)(0.203)(0.130)(0.132)(0.130)Sling TV subscriber additions (losses), net (in millions)(0.077)0.214(0.055)(0.234)(0.070)0.1170.065(0.100)Pay-TV ARPU$ 102.08$ 102.07$ 101.30$ 99.44$ 97.53$ 96.31$ 96.32$ 93.63DISH TV subscriber additions, gross (in millions)0.1490.1700.1560.1590.2000.2240.2010.210DISH TV churn rate1.51 %1.53 %1.51 %1.59 %1.61 %1.39 %1.29 %1.30 %DISH TV SAC$ 1,081$ 1,029$ 980$ 1,088$ 789$ 824$ 890$ 790 Wireless subscribers, as of period end (in millions)*7.9838.0077.8678.2038.5468.7748.8958.894Wireless subscriber additions, gross (in millions) 0.9380.8910.7930.7960.8260.8880.9441.032Wireless subscriber additions (losses), net (in millions)(0.024)0.001(0.210)(0.343)(0.245)(0.121)(0.201)(0.161)Wireless ARPU$ 37.61$ 37.64$ 37.90$ 37.72$ 38.76$ 39.25$ 39.10$ 38.89Wireless churn rate4.57 %4.28 %4.39 %4.64 %4.95 %4.67 %4.33 %4.44 % * During the third quarter of 2022, T-Mobile transferred approximately 139,000 wireless subscribers to DISH representing all Boost-branded customers of former Sprint affiliates Shentel and Swiftel, as well as Boost-branded customers who were previously part of the California Public Utilities Commission CARE program. The 139,000 subscribers are included in DISH's ending Wireless subscriber count and excluded from DISH's gross new Wireless subscriber activations. In addition, during the second quarter of 2022, DISH removed approximately 126,000 subscribers from its ending Wireless subscriber count representing wireless subscribers who did not migrate off T-Mobile's CDMA Network prior to the shutdown. The effect of the removal of the 126,000 subscribers was excluded from the calculation of DISH's net Wireless subscriber additions/losses and Wireless churn rate. During the second quarter of 2021, DISH acquired over 200,000 subscribers as a result of the Republic Wireless Acquisition, which are included in DISH's ending Wireless subscriber count and excluded from DISH's gross new Wireless subscriber activations for that period. CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/dish-network-reports-fourth-quarter-year-end-2022-financial-results-301753804.html