DISH Network Corp.(NASDAQ:DISH) stock rose over 2.7% on August 10th, 2021 (as of 1:31:22 PM UTC-4 · USD; Source: Google finance) after the company posted better than expected results for the second quarter of FY 21. The company has reported net income attributable to DISH Network of total $671 million for the second quarter 2021, compared to $452 million from the year-ago quarter. Net Pay-TV subscribers declined approximately 67,000 in the second quarter, compared to a net decrease of approximately 96,000 in the year-ago quarter. The company ended the second quarter with 10.99 million Pay-TV subscribers, including 8.55 million DISH TV subscribers and 2.44 million SLING TV subscribers. During the second quarter, DISH Network acquired more than 200,000 wireless subscribers through an asset purchase agreement with Republic Wireless Inc. The company has experienced a net decrease of 201,000 retail wireless subscribers in the second quarter, compared to a net decrease of 161,000 in the first quarter. The company ended the second quarter with 8.90 million retail wireless subscribers.
DISH in the second quarter of FY 21 has reported the adjusted earnings per share of $1.06, beating the analysts’ estimates for the adjusted earnings per share of 88 cents, according to figures compiled by Thomson Reuters. The company had reported the adjusted revenue growth of 40.8 percent to $4.49 billion in the second quarter of FY 21, beating the analysts’ estimates for revenue of $4.43 billion. The gross margin has contracted 177 bps to 35.7%. The gross margin for services has expanded by 274 bps to 40.4%. The company held $4.8 billion in cash and equivalents. The company has generated $2.3 billion in operating cash flow during the six months ended Jun. 30.
Meanwhile, Sinclair Broadcast Group has said that more than hundreds of its TV stations will no longer air on Dish Network Corp’s network after a carriage agreement between the companies expires on Aug. 16. The company said it was unlikely an agreement would be reached before the current one expires. In total, 112 broadcast TV stations are expected to be dropped, including ABC, CBS, FOX and NBC affiliates, Sinclair said, adding that on-demand and online access to the programming for Dish’s subscribers would also be discontinued.
Additionally, the company plans a one-two punch in the coming weeks: It will reboot the Boost Mobile service and aggressively promote the launch of a new 5G network, starting in Las Vegas.