Viacom Inc. said Thursday that its first quarter net income fell to $610 million while revenue fell 5% to $3.83 billion from $4.02 billion, a drop Viacom attributed mainly to lower DVD sales. In addition to MTV, Viacom operates cable channels BET, Comedy Central and Nickelodeon. The company sais it benefited from the ongoing recovery in advertising, and in the latest quarter saw domestic ad revenue grow 10%.
TOKYO (AP) — Sony’s quarterly profit dropped 8.6 percent as a strong yen and falling TV prices erased the boost the Japanese electronics and entertainment company got from its hit movie “The Social Network.” Tokyo-based Sony Corp. said Thursday it earned 72.33 billion yen ($886.4 million) in profit for the October-December quarter, down from 79.17 […]
The additional $121 million in revenue was driven by a stronger overall local advertising market, particularly in the automotive and financial sectors, as well as increased levels of political advertising.
TOKYO (AP) — Panasonic’s quarterly profit jumped 24 percent, driven by strong sales of flat-panel TVs, auto components and solar panels that offset damage from a strong yen. The Osaka-based maker of Viera plasma TVs and Lumix digital cameras on Wednesday reported 39.98 billion yen ($490 million) in profit for the October-December quarter, up from […]
The company cites strong political advertising and improvement in national and local time sales as key factors.
“Significantly higher” political money, solid core ad demand and 16% higher retrains revenue boost the fourth quarter figures.
Time Warner Cable, thesecond-biggest cable TV operator in the U.S. improved its net profit 22.2% to $392 million in the fourth quarter of 2010, with revenues gaining 5.9% to $4.8 billion. But as has been the trend for many cable system operators, Time Warner lost basic video subscribers — 141,000.
SEOUL, South Korea (AP) — Samsung Electronics, the world’s largest manufacturer of computer memory chips and flat screen televisions, said net profit rose 13 percent in the fourth quarter amid higher sales of semiconductors and smartphones as the technology giant rounded out a record year for earnings and revenue. Samsung warned, however, of a cloudy […]
Hotly contested political races generated nearly $24 million in fourth quarter revenues, compared with $3.7 million the year before. Also contributing was a strong automotive sector that powered a 6% gain in local time sales.
LOS GATOS, Calif. (AP) – Netflix’s video subscription service reeled in another 3.1 million customers during the fourth quarter to help deliver a performance that was better than analysts anticipated. The results announced Wednesday are the latest evidence of Netflix’s increasingly important role in home and mobile entertainment. The fourth-quarter growth left Netflix with 20 […]
SEOUL, South Korea (AP) — LG Electronics reported its first quarterly loss in nearly two years as prices for flat screen televisions fell and devices like the iPhone provided stiff competition for its mobile phone business. The company, a major global manufacturer of flat screen televisions and mobile phones, lost 256.4 billion won ($229.4 million) […]
The gain was led by $22 million in political ad money in addition to strong performances from nine non-political ad categories including auto, professional services and retail.
Driven by its cable networks, NBCU’s profit was $830 million, up from $602 million as revenues rose 12% to $4.8 billion in the quarter. Broadcast revenue was up 11% to $1.8 billion.
SEOUL, South Korea (AP) — Samsung Electronics said Friday that both sales and operating profit likely rose to record highs in 2010 despite sluggishness at the end of the year amid lower prices for televisions and semiconductors. The manufacturer of the 7000 Series 3D flat panel TV estimated that consolidated revenue during 2010 came to […]
The gain, driven mainly by its Albuquerque duopoly, helps lower its net loss to $390,000 from $1.4 million in the year-ago quarter.
Net revenue at Liberman Broadcasting was $30.7 million in the third quarter, an 11.6% improvement over the same quarter a year ago. Liberman’s television segment revenue grew 29.6% to $14.3 million, while radio revenue was up slightly to $16.4 million.
Viacom’s troubled gaming unit, which includes its Rock Band video game, pulled down overall third-quarter company results. Better news came from its media networks unit — witnessing 8% more domestic advertising sales and a 10% hike in worldwide affiliate fees. Worldwide advertising revenues improved 7% to $1.17 billion.
The company is investigating unusually heavy trading about half an hour before a press release on its fourth-quarter earnings was scheduled to go out.
The Walt Disney Co. reported its fourth quarter and full-fiscal year earnings on Thursday, with a dip in earnings per share. Operating income at its networks — which include ESPN and ABC — slid more than 18% during the quarter.
The radio-TV operator reported operating revenue of $32.8 million. As of Sept. 30, the company’s outstanding bank debt was $105.6 million.
The boost to $33.8 million is powered by a $3.2 million more political ad money, an 11% increase in national ads and a 3% boost in local.
Political ad increases of 422%, coupled with greater local, national and Internet advertising, plus higher retrans money push total to $85 million.