DISH Network Reports Third Quarter 2015 Financial Results

[Scott Greczkowski]

DISH Network Reports Third Quarter 2015 Financial Results

ENGLEWOOD, Colo.--(BUSINESS WIRE)--DISH Network Corporation (NASDAQISH) today reported revenue totaling $3.73 billion for the quarter ending Sept. 30, 2015, compared to $3.68 billion for the corresponding period in 2014. Subscriber-related revenue increased to $3.7 billion from $3.65 billion in the year-ago period.

Net income attributable to DISH Network totaled $196 million for the quarter ending Sept. 30, 2015, compared to net income of $146 million from the year-ago quarter. Diluted earnings per share for the quarter ending Sept. 30, 2015 were $0.42, compared with $0.31 during the same period in 2014.

For the three and nine months ended Sept. 30, 2015, DISH has included all of its Sling TV live, linear streaming over-the-top Internet-based television services in the company’s total Pay-TV metrics, including in the Pay-TV subscriber, Pay-TV ARPU and Pay-TV churn rate numbers set forth below. Sling TV subscribers are included net of disconnects.

In the third quarter, DISH activated approximately 751,000 gross new Pay-TV subscribers, compared to approximately 691,000 gross new Pay-TV subscribers in the prior year’s third quarter. Net Pay-TV subscribers declined approximately 23,000 in the third quarter, compared to a loss of approximately 12,000 in the third quarter 2014.

The company closed the third quarter with 13.909 million Pay-TV subscribers, compared to 14.041 million Pay-TV subscribers at the end of third quarter 2014.

Pay-TV ARPU for the third quarter totaled $86.33, compared to the year-ago period’s Pay-TV ARPU of $84.39. Pay-TV subscriber churn rate was 1.86 percent versus 1.67 percent for third quarter 2014.

DISH added approximately 13,000 net broadband subscribers in the third quarter, bringing its broadband subscriber base to approximately 608,000.

Year-to-Date Review

For the first nine months of 2015, DISH Network's revenue was $11.29 billion, compared to $10.96 billion in revenue from the same period last year. Year to date, net income attributable to DISH Network totaled $872 million, compared to $535 million from the same period last year. Diluted earnings per share were $1.88 for the first nine months of 2015, compared with $1.16 during the same period in 2014.

Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarter ended Sept. 30, 2015, filed today with the Securities and Exchange Commission.

DISH Network will host its third quarter 2015 financial results conference call today at noon ET. The dial-in numbers are (800) 616-6729 (U.S.) and (763) 488-9145, conference ID number 61355891.

A webcast replay will be available on DISH's Investor Relations website [http://dish.client.shareholder.com] today from 6 p.m. to 12 a.m. ET.

 

[satjay]

Never confuse me for a math major, but looks like they were positive for adds for the quarter, in today's market that's a good thing

 

[MikeD-C05]

They lost 23,000 subs over last year where they lost 12,000 quarter three of 2014. Revenue up as usual (price hikes) with 3.73 billion over last year same quarter at 3.68 billion. Ended with 13.909 million pay tv subs compared to 14.041 subs last year , same quarter. Sling tv sub additions and disconnects are included in this number. Churn rate was up 1.86 percent over last year same quarter at 1.67 percent. So DISH lost more subs , while adding more revenues, no surprise there. Every year price hikes come , which make revenues go up and this of course causes more people to leave for the competition or cut the cord entirely. A continuing downward spiral.

 

[Juan]

Never confuse me for a math major, but looks like they were positive for adds for the quarter, in today's market that's a good thing

Nope
Profits were up not customers

 

[satjay]

After reading it over after coffee I see

 

[Scott Greczkowski]

On thing the remember is that the numbers include Sling TV customers who disconnect as well. So many of those disconnects may not be satellite customers disconnecting, but Sling TV customers.

 

[Juan]

On thing the remember is that the numbers include Sling TV customers who disconnect as well. So many of those disconnects may not be satellite customers disconnecting, but Sling TV customers.

Sling is reported as broadband not pay tv

 

[gadgtfreek]

About the only way I would "cut the cord" is for something like Playstation Vue, but the 28 day limit ruins it for me. Im almost 4 weeks behind now with programming that started mid sept...

With 6mbps DSL and DVR needs, I dont see myself cord cutting any time soon.

 

[MikeD-C05]

As long as I continue to get money off of my DISH bill , I will continue on with DISH. Cutting the cord would be harder for me.

 

[KAB]

Sling is reported as broadband not pay tv

Not according to Paragraph 3.

 

[Juan]

Not according to Paragraph 3.

I read paragraph 7 608 thousand broadband customers and assumed that was sling..forgot about hughesnet

 

[bobvick]

To my knowledge, they have never "officially" broke out the number of Sling subscribers. Best I have ever seen are estimates.

 

[ggw2000]

To my knowledge, they have never "officially" broke out the number of Sling subscribers. Best I have ever seen are estimates.

Sling TV should have never been included in the Sat numbers!! It's just a way of confusing investors and not telling the whole truth.. They are NOT the same business model and should be broken out separately... But then again- this is Dish!!

 

[Troch77]

Sling TV should have never been included in the Sat numbers!! It's just a way of confusing investors and not telling the whole truth.. They are NOT the same business model and should be broken out separately... But then again- this is Dish!!

Agree because Sling isn't Satellite TV.
They should have it seperate.
But in any event, I see the number of losses is dropping, So maybe this could be the start of an uphill climb.

I think we'll see more and more rising numbers once Directv customers start seeing how Att really is at business.

 

[nelson61]

Link to SEC 3rd quarter 10Q with all the dirty details.

https://www.sec.gov/Archives/edgar/data/1001082/000155837015002472/dish-20150930x10q.htm

 

[KAB]

Sling TV should have never been included in the Sat numbers!! It's just a way of confusing investors and not telling the whole truth.. They are NOT the same business model and should be broken out separately... But then again- this is Dish!!

Shareholders don't give a damn. There's only one line item then care about, the bottom one.

 

[bobvick]

Sling TV should have never been included in the Sat numbers!! It's just a way of confusing investors and not telling the whole truth.. They are NOT the same business model and should be broken out separately... But then again- this is Dish!!

I doubt it will be only Dish that does this, as other MVPD's begin similar services, they will combine numbers as well. As Charlie put it in an interview earlier this year, to Dish Network, a video subscriber is a video subscriber, that being said, I am sure they'd rather have a DBS customer as they pay more generally speaking.

 

[Scott Greczkowski]

Sling is reported as broadband not pay tv

Nope.

DISH has included all of its Sling TV live, linear streaming over-the-top Internet-based television services in the company’s total Pay-TV metrics, including in the Pay-TV subscriber, Pay-TV ARPU and Pay-TV churn rate numbers set forth below. Sling TV subscribers are included net of disconnects.

 

[Juan]

Nope.

DISH has included all of its Sling TV live, linear streaming over-the-top Internet-based television services in the company’s total Pay-TV metrics, including in the Pay-TV subscriber, Pay-TV ARPU and Pay-TV churn rate numbers set forth below. Sling TV subscribers are included net of disconnects.

I see

 

[Yespage]

I doubt it will be only Dish that does this, as other MVPD's begin similar services, they will combine numbers as well. As Charlie put it in an interview earlier this year, to Dish Network, a video subscriber is a video subscriber, that being said, I am sure they'd rather have a DBS customer as they pay more generally speaking.

Paying more, but getting more. There are no setup costs for Slingtv and no equipment costs for Dish to deal with.