DISH - Why Dish Network Stock Was Down This Week
2023-05-12 09:03:00 ET
Dish Network (NASDAQ: DISH) stock trailed the market this week. Shares were down 13% through Thursday trading compared to a 0.1% drop in the S&P 500 , according to data provided by S&P Global Market Intelligence . The drop added to a tough year so far for shareholders. Dish Network stock is down over 50% so far in 2023.
This week's decline was sparked by the company's first-quarter update that covered the selling period through late March.
Dish Network announced on Monday that subscriber losses continue to pressure its business. Revenue fell to $3.96 billion from $4.33 billion a year ago thanks to declines in both its pay-TV and wireless users. Its churn rate, or the rate at which subscribers cancel in a given period, rose to its highest point in years.
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Why Dish Network Stock Was Down This Week