In the first quarter of apples-to-apples financials since it closed the Scripps Networks Interactive acquisition, Discovery delivered solid advertising gains and beat Wall Street profit forecasts. The company reported total revenue in the second quarter of just shy of $2.9 billion, which met estimates.
The increase is helped by a higher retransmission consent and reverse comp revenue.
CEO Perry Sook attributes the record results to “solid core revenue growth, our ability to maximize the Olympic and political revenue opportunities, growing retransmission consent revenues, impressive digital growth and the ongoing benefits of our results-focused operating disciplines.” The big driver was political of $25.5 million, plus a 23% gain in retrans revenue and $29 million in digital.
The broadcast operation, with ABC, generated $1.44 billion in revenue, up 5%, with operating income up 3% to $163 million. Advertising fell, Disney says, “due to fewer units sold” at ABC. That offset increases from program sales for Shark Tank, America’s Funniest Home Videos, My Wife and Kids– and a drop in costs following the cancellation of Katie.
Nielsen N.V.’s third-quarter financial results showed healthy gains, due to Arbitron and Harris acquisitions — and more moderate rises for its core business. At its Watch unit, revenue climbed 29% to $694 million. For its big Buy business unit, revenue improved 3.5% to $878 million. Overall revenue was up 13% to $1.57 billion — and without factoring in Arbitron and Harris, increased 2.5%.
The decrease in political and Gulf of Mexico oil spill-related advertising is a big part of the decline of the company’s overall results. When factoring out political, broadcast revenues for the quarter decreased 2.4%. Looking ahead, it says the fourth quarter should bring “a welcome strengthening in automotive advertising” and increased political revenues from early primaries in Florida and South Carolina.
But factoring out the lower political revenue, that changes to a 4.7% gain, driven by improving auto advertising. Retrans revenue was up 26.7% and online grew 27.5%.
Net revenues were down 8.2% to $49.3 million and operating income fell 27.7% to $16.1 million, the company said, attributing the declines to a drop in political ad money from $4.6 million in 2010 to $28,000 in this year’s quarter.
AMC Networks’ first earnings report as a public company showed strong advertising gains — just like many other cable networks — and big gains in its stock price.
News Corp. CEO Rupert Murdoch’s stance came as the company reported that its net income fell in the last quarter by 22%, mainly because of the sale of money-losing social-networking site Myspace. The phone hacking scandal and questions about Murdoch’s control of News Corp. overshadowed the media giant’s results, which beat expectations when excluding the Myspace sale.
Broadcasting revenue fell to $1.43 billion as ad revenue on its ABC network grew, but local ad sales at TV stations fell because of lower political spending. Disney’s results beat Wall Street expectations, but the surprise boost to Disney’s fiscal third quarter came mostly because of the early booking of revenue at ESPN, which will result in an offsetting negative in its fiscal fourth quarter.
Most of the gain comes from $20.5 million in local revenue, an increase of 8% from the year earlier period.
Excluding political advertising, revenue was up 8.1%. The company says it received the last of its network compensation in the quarter and is now paying reverse compensation — “licensing fees” — to NBC and ABC. The company’s larger newspaper division dragged down overall results. Overall, company revenue sank 3%.
Factoring out political, the increase jumps to 6.9%. The increases are led by a 4.3% gain in core advertising and double-digit increases in retrans, e-media and trade and barter.
(RTTNews) — Satellite and digital TV solutions provider EchoStar Corp. reported Tuesday that its second-quarter net income attributable to common shareholders was $18 million, compared with a net loss of $41 million last year. Earnings per share were $0.21, while prior year’s loss per share were $0.49. Analysts polled by Thomson Reuters expected the company […]
The increase to $76.2 million is powered by gains in local (4%), national (3%), retrans (8%) and Internet (56%).
The media company, which is controlled by billionaire Sumner Redstone, earned $574 million, or 97 cents per share, in the fiscal third quarter that ended on June 30. That’s up 37% from $420 million, or 69 cents per share, a year earlier.
The absence of Winter Olympics revenue this year isn’t enough to offset broad increases in other advertising categories.
The nation’s second-biggest provider of pay-TV services said today that its net income rose to $701 million, or 91 cents per share. That’s up from $543 million, or 42 cents per share, a year earlier. Its revenue grew 13 percent to $6.6 billion from $5.85 billion.
Revenue climbs to $4.6 million, while operating income grows 6.3% to $953,000.
Core local and national spot revenue was affected by a 6.6% decrease in automotive revenue due to the disruption in auto supply related to events in Japan. Excluding automotive revenue, its core spot revenue was up 5%, while retrans and Internet revenue rose by double digits.
The media company enjoyed its highest rate of growth since 2007, helped by cable advertising and hit movies.
Lack of World Cup and political money is blamed for the decrease from the same quarter last year.
The cable MSO and owner of NBC today reported that its net income of $1.02 billion, or 37 cents per share, for the April to June period, up 16% from $884 million, or 31 cents per share, a year ago. Its broadcast TV segment revenue rose 18.5%, boosted by its acquisition of the NBC and Telemundo networks and stations.
Local revenue, including advertising and retrans, was up 5%, while national was down 12.8%. Excluding political revenues, local net broadcast revenues were up 5.3% and national net broadcast revenues were down 7.8%.
The CEO of CBS tells securities analysts that the company is on target to reap $250 million from retransmission consent deals involving its O&Os. Add to that what it expects to get in retrans sharing or reverse compensation from its affiliates and the retrans-related revenue swells to as much as $700 million in the next three to five years, he said. “We’ve made a number of these affiliate deals for reverse comp without pulling down any signals anywhere…. Everybody’s happy.”
A drop in national and political ad revenue from the same period in 2010 was offset by a 4% gain in local advertising, an 8% gain in retransmission consent money and a 56% gain in Internet ad revenue.
Increases in TV core advertising, retransmission revenue and Internet revenue offset the expected decrease in political revenue. Excluding political resulted in a 4% gain in net revenue. The company also announces promotions for Hassan Natha and Sherry Pelletier.