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.
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.
