Trading On margin

DISH Network Corporation (NASDAQ: DISH) – Pay TV Helps DISH Network Achieve 41% Second Quarter Revenue Growth and Beat Profits

  • DISH Network Corp (NASDAQ: DISH) reported 40.8% year-on-year revenue growth for FY21 in the second quarter to $ 4.49 billion, beating analyst consensus of $ 4.43 billion .
  • Segments: Pay-TV subscribers and associated revenues grew 1.7% year-over-year to $ 3.2 billion. Wireless services and related revenues were $ 1.1 billion. Pay-TV equipment sales and other income increased 37.4% year-on-year to $ 50.3 million, and wireless equipment sales and other income increased 143% year-on-year to 184 , $ 3 million.
  • Service revenue grew 35% year-over-year to $ 4.3 billion. Equipment sales and other income increased six-fold to $ 232.5 million.
  • Conductors: The number of net pay-TV subscribers decreased by 67,000 in Q2 FY21, compared to 96,000 in Q2 FY20.
  • DISH closed the second quarter with 10.99 million pay TV subscribers, including 8.55 million DISH TV subscribers and 2.44 million SLING TV subscribers.
  • DISH acquired over 0.2 million wireless subscribers through an asset purchase agreement with Republic Wireless Inc. In addition, it saw a decline of 0.2 million retail wireless subscribers from 0 , 16 million in the first quarter.
  • The company closed the second quarter with 8.90 million retail wireless subscribers.
  • Margin: The gross margin contracted 177 basis points to 35.7%. The gross margin on services increased 274 basis points to 40.4%.
  • EPS of $ 1.06 broke analyst consensus by $ 0.88.
  • The company held $ 4.8 billion in cash and cash equivalents.
  • It generated $ 2.3 billion in operating cash flow during the six-month period ended June 30.
  • Price action: DISH shares traded up 0.98% to $ 42.38 as of the last check on Monday.


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