- DISH Network Corp (NASDAQ:DISH) reported a third-quarter FY22 revenue decline of 8% year-on-year to $4.095 billion, missing the consensus of $4.150 billion.
- The net decrease primarily resulted from the decline in revenue from its Wireless and Pay-TV segments.
- Drivers: Net Pay-TV subscribers increased by 30,000 in Q3 FY22, compared to a net 13,000 decrease in Q3 FY21.
- DISH closed Q3 with 10.02 million Pay-TV subscribers, including 7.61 million DISH TV subscribers and 2.41 million SLING TV subscribers.
- Retail wireless net subscribers increased by 1,000 in Q3 FY22 compared to a net decrease of 121,000 in Q3 FY21.
- DISH closed Q3 with 8.01 million retail wireless subscribers.
- Operating income declined 40.5% Y/Y to $427 million.
- EPS of $0.65 beat the consensus of $0.56.
- Debt Offering: DISH plans to offer a $2 billion aggregate principal amount of its senior secured notes via institutional offering.
- The net proceeds of the offering will serve general corporate purposes, including the buildout of wireless infrastructure.
- Price Action: DISH shares traded higher by 1.13% at $15.23 on the last check Wednesday.
US Lawmakers Urge Boeing CEO To Put ‘Safety Ahead Of Profits’ As Senators Probe Into 737 MAX 9 Safety Lapse
Sen. Cantwell, who chairs the Senate Commerce Committee, said "The American flying public and Boeing line workers deserve a culture of leadership at Boeing that puts safety ahead of profits." She also announced that the committee will hold hearings to investigate the root causes of the safety lapse.
