DISH Network Corporation

DISH’s results were a major disappointment as the company failed to meet the revenue expectations as well as the earnings expectations of Wall Street. In the last quarter, the company faced a cybersecurity incident, leading to disruptions in its network and operations. Its system restoration efforts were successful, and services like DISH TV, Sling TV, Boost Mobile, and wireless services remained operational. DISH has prioritized data security, enhanced cybersecurity defenses, and refined business continuity processes. Financially, the incident resulted in approximately $30 million in expenses for remediation and additional support, impacting DISH TV disconnects and churn. Nonetheless, the company anticipates no further material costs or subscriber impacts. The company’s management aims to expand its 5G network, targeting most of the U.S. population with commercial Voice over New Radio (VoNR) through Boost Mobile. We give DISH Network Corporation a ‘Hold’ rating with a revised target price.