The US satellite service provider offering satellite television, audio programming and interactive television services impressed markets with its latest quarterly figures
Dish Network reported a Q2 2021 net income of $671 million, or $1.06 a share. The figures came in higher than those reported in the year-prior quarter - $452.3 million, or 78 cents/ share, respectively. Dish’s revenue for the quarter reached $4.49 billion, beating the $4.43 billion expected by analysts.
On the other hand, the company’s net pay-TV subscribers declined by roughly 67,000 in Q2, compared to the net decrease of 96,000 reported a year earlier.
Dish’s quarterly figures came after, in the second half of July, announced a long-term partnership with the telecom giant AT&T. The latter would provide network services, expediting Dish’s efforts to expand its wireless distribution to rural areas. Moreover, Dish is developing America’s first cloud-native – OpenRAN- based 5G network – which will be available to more than 70% of the population by 2023.
Josh Swieringa, Dish COO and Group President of Retail Wireless, stated: “Teaming with AT&T on this long-term partnership will allow us to better compete in the retail wireless market and quickly respond to changes in our customers’ evolving connectivity needs as we build our own first-of-its-kind 5G network.”
At the moment of writing, Dish share price is trading 0.50% higher. Still, the company’s shares lost 9.8% in the past three months, while USA500 rose 4.8%.
Sources: marketwatch.com, tipranks.com