DISH Network Corp. (DISH), a company that provides pay-TV services in the United States, has gained an increase of 5.71% in aftermarket trading session. As a result, DISH is trading at $37.40 at the time of the writing. The stock is gaining on the reports of merger talk with Direc TV. On Tuesday, the stock closed the day at $35.38 after rising by 4.21% during the mid-day session.
Why DISH Surging?
Hours ago, the news started circulating that DISH is into the renewed merger talks with DirecTV. It is believed that the private equity firm TPG Capital is serving as the third party, as its pushing both the parties for discussions regarding a potential merger. Dish Chairman Charlie Ergen is an aid to be demanding some of the administrative powers of the combined company, like voting shares and some say on major decisions. As the news has come out, the shares of the stock have soared by 5.7% till the time of writing.
Q3 2021 Operational Results
In early November, DISH released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September 2021. The company reported total revenue of $4.45 billion for the quarter against $4.53 for the same quarter of 2020. The net income generated by the company during the three months was $557 million against $505 million for the same three-month period of 2020. The diluted earnings per share for the period were $0.88 against $0.86 for the same period of 2020.
Q3 2021 Business Highlights
Alongside the operational results, DISH also released the business highlights of the quarter. The Net Pay-TV subscribers decreased by 13,000 during the quarter against an increase of 116,000 during the same quarter of 2020. At the close of the quarter, the company had 10.98 million Pay-TV subscribers, which included 8.42 million DISH TV subscribers and 2.56 million SLING TV subscribers. The retail wireless net subscribers decreased by 121,000 during the quarter against a decrease of 212,000 during the same quarter of 2020. At the close of the quarter, the company had 8.77 million retail wireless subscribers.
Future Outlook for DISH
The last month has seen DISH stock rise by more than 10%. The longer statistics however reveal a different and abysmal picture for the stock. This depicts that during the more recent period, the stock has started attracting investors. Looking forward, the stock looks set to follow a similar trajectory.