Dish Network (NASDAQ:DISH) (Dish Network (NASDAQ:DISH)) has reported a drop in third-quarter revenue and has swung to a loss as its pay-TV subscribers declined.
The company's shares fell 8.6% ahead of the opening bell on Monday.
The US owner of the direct-broadcast satellite provider Dish said in a statement that pay-TV subscribers decreased by roughly 64,000 in Q3, compared to a net increase of approximately 30,000 in the year-ago quarter.
It closed the quarter with 8.84 million pay-TV subscribers, including 6.72 million DISH TV subscribers and 2.12 million SLING TV subscribers.
WirelessRetail net subscribers decreased by approximately 225,000, compared to a net increase of 1,000 a year earlier, resulting in 7.5 million retail wireless subscribers at the end of September.
Dish reported a 9.8% decline in revenue to $3.7 billion for the quarter ending September 30, 2023.
It swung to a net loss of $139 million for the quarter, from earnings of $412 million a year earlier. That resulted in a diluted loss per share of $0.26 from earnings of $0.65. The consensus forecast of analysts polled by Zacks Investment Research was for earnings of $0.25.
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