Dish Network has reported a revenue dip of 9.8 percent in its most recent financial report, as net retail wireless subscribers decreased by about 225,000 during the third quarter.
Dish also confirmed that president and CEO Erik Carlson will step down on November 12.
For the third quarter of the 2023 financial year, Dish posted revenues of $3.7 billion, compared to $4.1bn for the same period last year.
The company also saw a drop in net income year-over-year, reporting a net loss of $139 million for Q3 2023, compared to $412m a year earlier.
Its revenue slump was likely impacted by its declining subscriber base, which saw the company lose 225,000 wireless customers during this quarter, and 188,000 customers during the second quarter of this year. Dish ended Q3 with approximately 7.5 million wireless customers, down from eight million last year.
For the quarter, Dish said it finished with 8.84m pay-TV subscribers, slightly down from 8.9 million at the end of the second quarter and down from 10.02m year-on-year (YoY).
As for its satellite subscribers, this fell to 6.72m from 6.9m at the end of the second quarter. This time last year, it had been 7.6m a year ago.
Carlson to depart next week
His departure isn't too much of a surprise, with Dish expected to merge with satellite communications vendor EchoStar, both owned by billionaire Charles Ergen.
EchoStar CEO Hamid Akhavan is expected to lead the combined company upon the completion of the deal, which is anticipated by the close of 2023.
The proposed merger was announced in August. Ergen, who co-founded Dish, owns more than half of its outstanding shares and owns nearly 60 percent of EchoStar.
EchoStar was spun out from Dish back in 2008, as Dish held onto the TV business while shedding the satellite infrastructure that beamed content into them.
Dish has focused heavily on pushing its 5G network in the past year, extending its coverage to more than 70 percent of the US population.
The company said it had met the commitments set by the FCC on June 14, which included the launch of over 15,000 5G sites.