ENGLEWOOD, Colo.—Dish Network has once again reported heavy pay TV sub losses with its total pay TV subs falling by 552,000 to 9.198 million, as satellite subs fell by 318,000 to 7.098 million and its streaming Sling TV subs fell by 234,000 to 2.1 million.
The Sling TV streaming sub losses were the worst since the 234,000 sub losses reported in Q1 2022 and mark a steep decline in the virtual MVPD’s subscribers from 2.252 million in Q1 2022 and 2.439 million in Q1 2021.
The losses raise doubts about Dish’s ability to fund its transition into a 5G wireless company as it reported revenue totaling $3.96 billion for the quarter ending March 31, 2023, compared to $4.33 billion for the corresponding period in 2022.
Net income attributable to Dish Network totaled $223 million for the first quarter 2023, compared to $433 million for the year-ago quarter.
Diluted earnings per share were $0.35 for the first quarter, compared to $0.68 per share during the same period in 2022.
Retail wireless net subscribers decreased by approximately 81,000 in the first quarter, compared to a net decrease of 343,000 in the year-ago quarter. The company closed the quarter with 7.91 million retail wireless subscribers.
