Lionsgate Shrinks Quarterly Losses As TV Business Gets Post-Strikes Bounce

Quarterly losses shrank at Lionsgate and revenues climbed as the company’s television business rebounded from the twin strikes that had shut down production for much of 2023. Revenue at the company behind The Hunger Games and John Wick franchises topped out at $1.12 billion for the three-month period ending in March, up from $1.08 billion in the prior-year quarter.

Trump Media And Technology Group Posts More Than $300M Net Loss In First Public Quarter

SARASOTA, Fla. (AP) — Trump Media and Technology Group, the owner of former President Donald Trump’s social networking site Truth Social, lost more than $300 million last quarter, according to […]

QUARTERLY REPORT

Japan’s Sony Reports Surge In Profit On Strong Sales Of Movies, Games And Music

Tokyo-based Sony Corp.’s quarterly profit totaled 189 billion yen ($1.2 billion), up from 141 billion yen the year before. Quarterly sales for the maker of the PlayStation game machines rose 14% to 3.48 trillion yen ($22 billion).

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Scripps Q1 Station Revenue Climbs 13%

The increase to $353 million was driven by increased political advertising and distribution revenue. For the company as a whole, total Q1 revenue was $561 million, a decrease of 6.4%, or $33.7 million.

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Warner Bros. Discover’s Q1 Advertising Dips, But Streaming Is Profitable

Overall, revenue of $9.958 billion was down from the year before and shy of Wall Street expectations, of over $10 billion. Ditto with net loss per share of 40 cents. TV numbers felt the impact of strikes with fewer episodes delivered. Streaming was a bright spot, where WBD added 2 million subs to 99.6 million and had a profit of $86 million, up from $50 million the year before. Revenue firmed, including a 70% jump in ad sales.

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Nexstar’s Q1 Net Revenue Rises 2.1%

The total of $1.284 billion was attributed to increased distribution revenue and higher political revenue of $39 million.

Vizio Reports $12.1 Million Loss For First Quarter

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Sinclair 1Q Revenue Rises 3%

The increase to $798 million was driven by the Local Media segment, which grew to $792 million from $766 million in the same quarter a year ago as well as higher distribution revenue.

EchoStar Loses 213,000 Dish & 135,000 Sling TV Subscribers In First Quarter

EchoStar lost about 348,000 net pay TV subscribers in the first quarter, compared with a drop of 552,000 in the year-ago period, the company said on Wednesday. The company disclosed in a regulatory filing on Wednesday that it lost around 135,000 net Sling TV subscribers in the latest quarter, compared with a year-ago loss of 234,000. It ended March with 1.92 million Sling TV subs.

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Fox Swings To Quarterly Profit Despite Slump In Ad Revenue

Fox Corp. said it swung to a profit in its fiscal third quarter despite slumps in advertising revenue, largely due to the absence of charges associated with a massive legal setback tied to Fox News Channel and a boost in affiliate fees. The owner of Fox News Channel and the Fox broadcasting network said overall revenue fell to about $3.45 billion, compared to approximately $4.08 billion in the year-earlier period.

New York Times Adds 210,000 Digital Subscribers In Quarter

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Tegna Q1 Revenue Dips 4%

The decrease to $714 million is attributed to lower subscription revenue and advertising and marketing services revenue.

Fremantle Owner RTL’s Quarterly Revs Rise To $1.4B, Driven by Streaming, Advertising

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Comscore Posts $5.2 Million Loss In 1st Quarter

Measurement company Comscore’s net loss was $5.2 million, or $1.08 a share in the quarter, compared to a loss of $12.5 million, or $2.66 a share, a year ago. Revenue dipped 5% to $86.8 million cross-platform solution revenue was down 9.7% because of lower national TV revenue. For the full year 2024, Comscore expects revenue to be between $375 million and $390 million, with an adjusted EBITDA margin of between 12% and 15%.

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Disney Posts Better-Than-Expected Quarterly Results, Nears Streaming Profitability Goal

Revenue for the quarter ended March 30 increased to $22.1 billion from $21.8 billion in the year-earlier period. Excluding items, diluted earnings per share for the quarter increased to $1.21 from 93 cents. Analysts had been expecting revenue of $20.53 billion and earnings per share of $1.02.

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Gray Television Q1 Revenue Rises 3%

The increase to $823 million was pegged to higher core advertising as well as higher driven by the 2024 Super Bowl.

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Entravision Pushes Ahead In Q1 As Meta Deadline Looms

Despite an impending challenge from Meta’s end to its Authorized Sales Partner program, Entravision Communications reported a strong financial performance for the first quarter of 2024. With net revenue rising 16% to $277.45 million, the company finished ahead of analyst expectations, but Entravision faced rising costs across the board, including a significant $49.44 million impairment charge. These escalated expenses contributed to a net loss of $48.89 million for the quarter, a stark contrast to the net income of $2.04 million reported in Q1 2023.

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Apple’s Solid Quarter, Buoyed By Services, Gives Stock A Needed Bump

Apple‘s fiscal Q2 numbers beat Wall Street estimates on the top and bottom line in a market that was waiting for them with some trepidation — mainly news of iPhone sales in China. The dip there was less than anticipated. The stock is up more than 7% in after-hours trading. Apple shares had a huge 2023 but the stock has been nearly alone among the so-called Magnificent Seven tech stocks to lose ground so far in 2024.

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SiriusXM Loses 445,000 Sat Radio, 64,000 Pandora Subs

The audio entertainment company, home to Howard Stern and in rebuilding mode, pointed to a “promising” takeup of its revamped app.

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Amazon Reports Strong 1Q Results Driven By Its Cloud-Computing Unit And Prime Video Ad Dollars

The Seattle-based e-commerce giant said it brought in $143.31 billion in revenue in the first three months of this year, a 13% jump compared to the same period last year. Net income came out to $10.43 billion, or 98 cents per share. That soundly beat Wall Street analysts’ expectations for 84 cents a share, according to FactSet.

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Charter Loses 392,000 Pay TV Subscribers In First Quarter

The cable giant continues to shed video customers as revenue remained unchanged at $13.67 billion, in line with analyst expectations.

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YouTube Q1 Ad Sales Top $8 Billion As Parent Alphabet Declares First Dividend, Shares Pop

Google and YouTube parent Alphabet blew away Wall Street estimates with revenue up 15% to $80.5 billion driven by strong ad growth. The company also announced a major milestone, its first ever dividend of 20 cents a share in June. The stock is up more than 12% after market close. During a call, CEO Sundar Pichai said YouTube TV has more than 8 million subscribers, a stat YouTube CEO Neal Mohan noted in February.

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Roku Q1 Results Show Benefits Of Streaming Price Hikes

Roku posted solid first-quarter financials, with positive results in several key metrics illustrating the benefits of ongoing price inflation in the streaming sector. Net losses totaled 35 cents a share, far better that Wall Street analysts’ consensus estimate of 62 cents and much narrower than the $1.38 recorded in the year-ago quarter. Revenue of $754.9 million fell significantly short of the Street’s expectation for $848.6 million, but the company notched its third straight quarter of positive Adjusted EBITDA and free cash flow.

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Snap Stock Soars On Strong Q1 Revenue & Outlook As Daily Active Users Hit 422 Million

Shares of Snapchat parent Snap popped 26% in late trading after the social media network said revenue jumped more than expected last quarter to $1.95 billion, up 21% from 2023. The number, and the outlook for the current quarter were nicely above Wall Street forecasts, as were daily active users, which hit 422 million.

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TelevisaUnivision Posts Q1 Loss But Projects Streaming Profits In Second Half Of 2024

Continued investment in streaming contributed to a first-quarter loss for Spanish-language media giant TelevisaUnivision, which is seeing the bulk of its growth come from its Mexican operations while U.S. revenue stays flat with year-earlier results. Revenue during the quarter improved 7%, to $1.1 billion. Revenue from Mexican operations rose 23%, to $409 million. But revenue from U.S. businesses — a bigger part of the company’s overall financial results — stayed flat at $740 million, despite a first-quarter airing of a Spanish-only version of the 2024 Super Bowl on Univision.

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Comcast Edges Wall Street Q1 Estimates; Peacock Reaches 34M Subs

Comcast reported first quarter results that outpaced Wall Street expectations, with Peacock reaching 34 million subscribers but posting higher programming costs. Total revenue inched up 1% to $30.1 billion, with adjusted earnings per share coming in at $1.04, up from 92 cents in the year-ago period. The Media division, which includes Peacock, reported a nearly 4% gain in revenue, to $6.4 billion. But higher operating expenses, notably higher programming expenses at Peacock, contributed to wider losses. Adjusted EBITDA, a key measure of profitability, fell 6% to $827 million.

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Meta More Than Doubles Q1 Profit But Revenue Guidance Pulls Shares Down After-Hours

Meta Platforms earned $12.37 billion, or $4.71 per share, in the January-March period. That’s up from $5.71 billion, or $2.20 per share, in the same period a year earlier. Revenue rose 27% to $36.46 billion from $28.65 billion. Analysts, on average, were expecting earnings of $4.32 per share on revenue of $36.14 billion, according to a poll by FactSet.

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Spotify Boosts Paid Subscribers In First Quarter, Beating Estimates

Spotify Technology, the audio streaming giant, reported Q1 results broadly in line with analyst forecasts as the company continued to add new features. Paid subscribers rose 14% year over year to 239 million, the company said Tuesday in a statement, in line with analysts’ estimates compiled by Bloomberg. Total active users, including those plans with advertising, grew to 615 million, compared with the 617.9 million forecast by analysts.

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Netflix Adds 9.3M Subscribers In Another Strong Quarter

Netflix added 9.3 million subscribers in the quarter ended March 31, reaching 269.6 million worldwide, and outperformed expectations in other key areas in its latest strong financial report. Revenue and earnings per share both handily exceeded Wall Street forecasts at $9.37 billion and $5.28, respectively. The top line was up 15% from the same quarter in 2023, while EPS came in at nearly double the year-ago period’s $2.88. In its quarterly letter to shareholders, Netflix said it planned to stop reporting subscriber totals and average revenue per subscriber starting with its first quarter results in 2025.

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Comscore Loss Widens In Q4 On Impairment Charge

Comscore’s fourth-quarter loss widened as it took a charge related to goodwill and as revenue declined. The loss was $32.7 million, or $6.69 a share, compared to a loss of $3.8 million or 80 cents a share, in the same quarter a year ago. The results include a $34.1 million non-cash impairment charge related to goodwill and $4.3 million in dividends paid to convertible redeemable preferred stockholders, the company said.

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Tegna Q4 Revenue Down 21%

The decrease to $726 million is attributed to lower political advertising compared to 2022’s mid-term election cycle.

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Nexstar’s Q4 Net Revenue Drops 12.3%

The total of $1.3 billion was attributed to a 14% rise in distribution revenue that couldn’t offset lower political, core and digital revenue.

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Scripps Q4 Station Revenue Drops 12%

The decrease to $381 million was driven by lower core and political advertising. For the company as a whole, total Q4 revenue was $616 million, a decrease of 9.6%, or $65.2 million from a year ago.

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Warner Bros. Discovery Q4 Hit By Softer Advertising, Strike Impact But Losses Narrow

Warner Bros. Discovery saw revenue dip but losses narrow in the last quarter of 2023. Free cash flow grew — a key metric that allows the David Zaslav-led media giant to continue chipping away at its hefty debt, which it is doing. Revenue of close to $10.3 billion compared with $11 billion the year before, down 7%.

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AMC Networks U.S. Ad Revenue Drops 23%, Streaming Subs Rise To 11.4M

The company, led by CEO Kristin Dolan, takes a $42.4 million impairment charge related to BBC America and a $19.8 million charge related to 25/7 Media.

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Disney Sees Solid Quarter With Upbeat Streaming Outlook

Disney’s profit blew away forecasts although revenue fell a bit short in a key, and solid, earnings report that the company hopes will set the stage for more robust growth. Revenue was flat at $23.5 billion for Disney’s fiscal first quarter ended in December. Diluted EPS (excluding some items) was $1.22, up 23% from the year before.

New York Times Co. Adds 300,000 Digital Subscribers In Quarter

At the end of the year, The Times had 10.36 million subscribers, 9.7 million of them digital-only.

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Fox Earnings Hit By Lower Ad Revenue Last Quarter

Fox saw revenue dip 8% last quarter to $4.23 billion on weaker advertising due in part to tough comps from the year before. The fiscal second-quarter numbers hit the day after Fox with Disney and Warner Bros. Discovery set a fall launch date for joint streaming sports venture with. There’s no name or price yet for the service, which will pool the sports rights of the three media companies. CEO Lachlan Murdoch will say more on a call at 8:30 ET.

Spotify Hits 236M Paying Subs As User Figures Beat Estimates, Quarterly Loss Narrows

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Meta Posts Sharp Profit, Revenue Increase In Q4

The Menlo Park, Calif.-based parent company of Facebook and Instagram said Thursday that it earned $14 billion, or $5.33 per share, in the October-December period. That’s up from $4.65 billion, or $1.76 per share, a year earlier.