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DISH Network’s second-quarter 2022 earnings of 82 cents per share beat the Zacks Consensus Estimate by 24.24% but decreased 22.6% year over year.
Revenues decreased 6.2% year over year to $4.21 billion and lagged the consensus mark by 1.41%.
Revenues from the United States fell 6.1% year over year to $4.19 billion. Revenues from Canada and Mexico decreased 27.9% to $11.1 million.
Quarterly Details
Pay-TV revenues decreased 3% year over year to $3.15 billion. DISH exited the reported quarter with 9.988 million Pay-TV subscribers, down 9.1% year over year.
DISH TV subscribers declined 8.9% year over year to 7.791 million. Sling TV subscribers decreased 9.9% year over year to 2.197 million.
DISH Network Corporation Price, Consensus and EPS Surprise
Pay-TV ARPU increased 5.2% year over year to $101.30. Additionally, the DISH TV churn rate was 1.51% compared with the year-ago quarter’s 1.29%.
Wireless revenues were $1.06 billion, down 14.5% year over year. Wireless subscribers, at the end of the reported quarter, were 7.867 million.
Wireless ARPU was $37.90 while Wireless churn rate was 4.39% in the reported quarter.
In the second quarter, DISH TV’s subscriber-acquisition costs increased 10.1% year over year to $980.
Total cost and expenses decreased 1.8% year over year to $3.52 billion.
Operating income was $692.9 million, down 23.6% year over year.
Pay-TV operating income decreased 5% year over year to $785.5 million. Wireless operating loss was $92.5 million against the year-ago quarter’s income of $79.8 million.
Balance Sheet
As of Jun 30, 2022, DISH Network had cash, cash equivalents and current marketable investment securities of $2.75 billion compared with $3.23 billion as of Mar 31, 2022.
Total debt, as of Jun 30, 2022, was $21.09 billion compared with $21.42 billion as of Mar 31, 2022.
Zacks Rank & Stocks to Consider
DISH currently has a Zacks Rank #4 (Sell).
Take-Two Interactive (TTWO - Free Report) , DraftKings (DKNG - Free Report) and Callaway Golf are some better-ranked stocks that investors can consider in the broader sector. Take-Two Interactive currently sports a Zacks Rank #1 (Strong Buy) while both DraftKings and Callaway have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Take-Two Interactive is set to announce first-quarter fiscal 2022 results on Aug 8. TTWO shares have been down 28.7% year to date.
DraftKings is set to announce second-quarter 2022 results on Aug 5. DKNG shares have been down 44% year to date.
Callaway is set to announce second-quarter 2022 results on Aug 4. ELY shares have been down 15.9% year to date.
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DISH Network (DISH) Q2 Earnings Beat, Revenues Decline Y/Y
DISH Network’s second-quarter 2022 earnings of 82 cents per share beat the Zacks Consensus Estimate by 24.24% but decreased 22.6% year over year.
Revenues decreased 6.2% year over year to $4.21 billion and lagged the consensus mark by 1.41%.
Revenues from the United States fell 6.1% year over year to $4.19 billion. Revenues from Canada and Mexico decreased 27.9% to $11.1 million.
Quarterly Details
Pay-TV revenues decreased 3% year over year to $3.15 billion. DISH exited the reported quarter with 9.988 million Pay-TV subscribers, down 9.1% year over year.
DISH TV subscribers declined 8.9% year over year to 7.791 million. Sling TV subscribers decreased 9.9% year over year to 2.197 million.
DISH Network Corporation Price, Consensus and EPS Surprise
DISH Network Corporation price-consensus-eps-surprise-chart | DISH Network Corporation Quote
Pay-TV ARPU increased 5.2% year over year to $101.30. Additionally, the DISH TV churn rate was 1.51% compared with the year-ago quarter’s 1.29%.
Wireless revenues were $1.06 billion, down 14.5% year over year. Wireless subscribers, at the end of the reported quarter, were 7.867 million.
Wireless ARPU was $37.90 while Wireless churn rate was 4.39% in the reported quarter.
In the second quarter, DISH TV’s subscriber-acquisition costs increased 10.1% year over year to $980.
Total cost and expenses decreased 1.8% year over year to $3.52 billion.
Operating income was $692.9 million, down 23.6% year over year.
Pay-TV operating income decreased 5% year over year to $785.5 million. Wireless operating loss was $92.5 million against the year-ago quarter’s income of $79.8 million.
Balance Sheet
As of Jun 30, 2022, DISH Network had cash, cash equivalents and current marketable investment securities of $2.75 billion compared with $3.23 billion as of Mar 31, 2022.
Total debt, as of Jun 30, 2022, was $21.09 billion compared with $21.42 billion as of Mar 31, 2022.
Zacks Rank & Stocks to Consider
DISH currently has a Zacks Rank #4 (Sell).
Take-Two Interactive (TTWO - Free Report) , DraftKings (DKNG - Free Report) and Callaway Golf are some better-ranked stocks that investors can consider in the broader sector. Take-Two Interactive currently sports a Zacks Rank #1 (Strong Buy) while both DraftKings and Callaway have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Take-Two Interactive is set to announce first-quarter fiscal 2022 results on Aug 8. TTWO shares have been down 28.7% year to date.
DraftKings is set to announce second-quarter 2022 results on Aug 5. DKNG shares have been down 44% year to date.
Callaway is set to announce second-quarter 2022 results on Aug 4. ELY shares have been down 15.9% year to date.