DISH Network Corporation (NASDAQ: DISH) on Friday reported revenue totaling $4.33 billion for the quarter ending March 31, 2022, compared to $4.50 billion for the corresponding period in 2021. Net income attributable to DISH Network totaled $433 million for the first quarter 2022, compared to $630 million for the year-ago quarter. Diluted earnings per share were $0.68 for the first quarter, compared to $0.99 per share during the same period in 2021.
DISH CEO Charlie Ergen said the company is still aiming to hit the June 14 deadline and although the company wasn’t having any difficulties with supply chains, it had delays in installing backhaul and utilities due to labor shortages.
“We suspect this means that DISH is still having difficulties getting the handoff from VoNR (voice over new standalone 5G) to roaming on the MVNOs’ voice network to be as seamless as it would like,” said New Street Research analyst Philip Burnett. Ergen had mentioned in past calls that DISH had experienced some difficulty in getting VoNR to work seamlessly across all markets. Burnett said this likely means most, if not all, markets will rely solely on the MVNOs for voice service at the outset.
Ergen acknowledged reaching an agreement with T-Mobile on the CDMA dispute saying they were waiting for the DOJ to sign off and indicated the federal agency was contemplating changes to the terms. The delay, Ergen said, may indicate a change in the DOJ’s stance about the need to have four wireless players.
“It sounds like once the deal is enacted, DISH expects to recoup some of the cost of the CDMA migration from T-Mobile,” Burnett said.
Net pay-TV subscribers decreased approximately 462,000 in the first quarter, compared to a decrease of approximately 230,000 in the year-ago quarter. The company closed the quarter with 10.24 million pay-TV subscribers, including 7.99 million DISH TV subscribers and 2.25 million SLING TV subscribers. Retail wireless net subscribers decreased by approximately 343,000 in the first quarter, compared to a net decrease of 161,000 in the year-ago quarter. The company closed the quarter with 8.20 million retail wireless subscribers.
Detailed financial data and other information are available in DISH Network’s Form 10-Q for the quarter ending March 31, 2022, filed Friday with the Securities and Exchange Commission.
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