Dish Stock Tanks After Mixed Q3, Subscribers Drop, CEO Departure Update
Portfolio Pulse from Anusuya Lahiri
DISH Network Corp reported Q3 revenue of $3.70 billion, missing the consensus of $3.72 billion. The company also reported a loss of $0.26 per share, down from $0.65 Y/Y, missing the consensus of $0.04. Net pay-TV subscribers decreased by approximately 64,000 in the quarter, and retail wireless net subscribers decreased by approximately 225,000. CEO W. Erik Carlson intends to resign effective November 12, 2023, and Hamid Akhavan, the current CEO of EchoStar, is expected to take over. DISH shares are trading lower by 10.20% premarket.
November 06, 2023 | 2:19 pm
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NEGATIVE IMPACT
DISH Network reported lower than expected Q3 revenue and a drop in subscribers. The CEO's upcoming resignation and the appointment of EchoStar's CEO could lead to uncertainty. Shares are down 10.20% premarket.
DISH's lower than expected Q3 revenue and subscriber drop indicate a negative performance. The CEO's resignation and the appointment of a new CEO could lead to uncertainty and potential changes in the company's strategy, which may impact the stock price negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100