Dish Network reported its fourth-quarter results, and the numbers weren’t pretty as the company races to deploy its 5G network.
Best-known for its satellite TV service, Dish is poised to become the fourth nationwide carrier in the US, replacing Sprint. Although US regulators cleared T-Mobile to purchase Sprint, there was concern about the wireless market consolidating to three major players, instead of four. As a result, as terms for the merger, regulators demanded T-Mobile and Sprint turn over some assets to Dish in an effort to establish it as a successful fourth carrier.
The company has been making major headway in its efforts to roll out its 5G network, and told investors it plans to cover 20% of the US by June, according to CNET. Regulators had previously set June as the deadline for Dish to reach that milestone.
Getting that large a portion of its 5G network up and running can’t happen fast enough for the company. In its latest quarter, Dish reported $522 million in revenue, down from $733 million a year ago. Similarly, EPS came in at $0.87 a share, down from $1.24. The company also lost a net total of 245,000 wireless subscribers and 237,000 pay-TV subscribers.
According to The Wall Street Journal, Chairman Charlie Ergen took responsibility for the delays in the company’s 5G rollout, saying they “just didn’t anticipate that we’d have to do as much on the technical side.”
For Dish’s sake, hopefully the company doesn’t run into any further delays as it pivots to 5G.