Dish Network on Tuesday posted a sharply lower profit for the second quarter as its subscriber losses continued, though results still topped Wall Street expectations, and announced that it will recombine with satellite communications company EchoStar Corp. in an all-stock deal. Dish reported revenue of $3.91 billion, a 7% decline from the $4.21 billion in the second quarter of 2022, but above the $3.82 billion forecast by analysts polled by Zacks Investment Service.
Sinclair 1Q Total Revenue Down 40%
However, after discounting comparisons that included the Diamond Sports Group (RSNs), which was “deconsolidated,” total revenues decreased 5% from the prior year period and media revenues dropped 6%.
Comscore, which reported a wider loss in the second quarter, said it is conducting a strategic review of the company. It was unclear whether the review could lead to the sale of all or part of the company. CEO Dale Fuller said during the company’s earnings call Tuesday that “we are looking at all strategic options for the company.”
