ViacomCBS saw revenue dip 2% and swung to red for the last three months of the year, which CEO Bob Bakish called a “transitional” fourth quarter that is the first for the company since it merged in December. The company said merger-related expenses and various operating items weighed on the numbers but are expected to be mitigated through the benefits of the combination.
Satellite TV provider Dish Network’s quarterly results beat Wall Street estimates on Wednesday, as it lost fewer pay TV subscribers. Dish has been struggling to retain subscribers for its pay-TV business, as customers shift to online streaming services including those from Netflix, Walt Disney Co. and Apple.
Roku beat Wall Street estimates for the fourth quarter, hitting new highs in active accounts and revenue per user, though an acquisition in the period created a loss of 13 cents per share. Total revenue hit $411.2 million, well ahead of the consensus estimate of $391.6 million and up 49% over the same quarter in 2018. The loss of 13 cents compared with earnings of 5 cents a share a year earlier.
The increase to $694 million was driven by acquisitions and continued growth in subscription revenue and advertising and marketing services, which more than offset the absence of $140 million of political revenue in the same period last year.
WWE stock has sunk sub-$40 per share in premarket trading Thursday, following the pro wrestling company’s release of 4Q and full-year 2019 financials. While WWE reported Thursday it beat fourth-quarter 2019 earnings estimates, the company missed on revenue expectations, despite reaching a record high thanks to its big SmackDown on Fox deal.
Twitter early Thursday posted $1.01 billion in fourth-quarter revenue, beating Wall Street estimates in a crucial quarter that’s being heavily scrutinized after some glitches in its advertising products resulted in disappointing sales growth in the quarter before.
Fox topped Wall Street’s earnings and revenue forecasts for the second quarter of fiscal 2020 on Wednesday. Broadcast saw a shakeup in the Nielsen rankings this autumn, with Fox grabbing its first fall TV ratings win in the all-important adults 18-49 demographic in a decade.
The company says it has 26.5 million Disney Plus subscribers as of Dec. 28, the end of its first fiscal quarter. The service launched in November, and Disney has positioned it as the future of the company as more people drop their cable subscriptions in favor of online video services like Netflix. The company’s broadcasting arm’s revenue rose 34% to $2.6 billion.
Tokyo-based Sony, which makes PlayStation video-game consoles, Bravia TVs and Spider-Man films, said the impact of the virus was unclear, but production and sales of its image sensor division were at risk. The company promised to release any new forecasts as soon as possible.
For the first time, Google on Monday revealed just how big of an advertising machine YouTube is. The company said that YouTube generated $15.1 billion in ad revenue in fiscal 2019, including $4.7 billion in the fourth quarter.
Amazon’s move towards one-day shipping did little to hurt its bottom line during the holiday season, with the e-commerce giant reporting on Thursday afternoon its Q4 earnings easily surpassed Wall Street’s expectations. At the same time, Amazon shared it reached a new milestone when it comes to Prime memberships.
Verizon Communications shares fell about 1% on Thursday as quarterly profits missed estimates even though the company added more monthly mobile phone subscribers than expected as adding the Disney+ streaming service helped some of its plans.
Its profit and revenue both handily surpassed Wall Street’s expectations. Facebook said that about 2.89 billion people use at least one of its services — Facebook, WhatsApp, Instagram or Messenger — each month.
Apple TV+ was one of the biggest product launches in years for Apple. But you wouldn’t know that from Apple’s just-released earnings. The streaming service, which launched last November after years of stops and starts, was not mentioned once in the tech giant’s first-quarter earnings report. During the subsequent earnings call with analysts, CEO Tim Cook dedicated only a brief mention of the new service when he said it was off to a “rousing start” but declined to disclose any actual subscriber numbers.
Comcast reported earnings per share of 79 cents in the fourth quarter, edging the consensus expectation of Wall Street analysts by two cents. Revenue in NBCU’s Cable Networks unit increased 1% to $2.9 billion in the quarter, which the company credited to higher advertising and content licensing and other revenue.
Viacom this morning reported fourth-quarter profit of 79 cents a share that beat Wall Street forecasts and Paramount Pictures returned to full-year profitability, though revenue slipped 1% to barely undershoot estimates. Revenue came in at $3.4 billion for the quarter, down from $3.5 billion in the year-earlier quarter. The quarterly report is Viacom’s last as a stand-alone company. It expects to close its all-stock merger with CBS in early December.
While the third quarter brought softening auto advertising, legal is helping fill the gap, broadcasters say. And with 2020 comes the expectation that political advertising will blow away all previous records.
CBS revealed third-quarter 2019 financials early Tuesday morning, reporting a mixed bag of results. Though revenue slightly grew from the comparable quarter last year, CBS missed media analysts’ forecasts by $60 million. Reverse comp and virtual MVPD revenues grew 18%, and total affiliate and subscription fees grew 12%, representing more than a third of its overall revenue in the quarter.
Nissan reported flat North American profit in its latest quarter and narrowed its loss in Europe, while global earnings fell.
The total of $36.4 million is the same as a year ago with increases in retrans dollars partially offset by lower local and political ad revenue.
“I think we were all nervous about the General Motors strike and that had no impact on us,” Local Media President Brian Lawlor told analysts. In fact, he added, the ad categories of furniture, bedding, travel and leisure, cruises, jewelry, shoes and appliances, all were “up significantly. It really gives us a lot of hope that our local economy and our local markets are very healthy.”
Increases in core, digital and retrans money fail to offset lower political and greater reverse comp.
The increase to $252 million was aided by a 21% rise in retrans revenue and higher core advertising.
The decrease to $115.2 million is due to a $19.9 million decrease in political advertising revenue, slightly offset by a $3.1 million increase in retransmission revenues.
Five days before its highly-anticipated launch of its streaming service, Disney reported fourth-quarter earnings on Thursday that beat Wall Street expectations. For the three months ending on Sept. 30, representing the company’s fourth fiscal quarter, Disney reported $19.1 billion in revenue, narrowly beating analyst estimates of $19.04 billion. Disney also posted earnings per share of $1.07, which excluded certain items that affected comparability to prior quarters, which surpassed projections of $0.95 EPS.
The increase to $552 million was driven by acquisitions and continued growth in subscription revenue and advertising and marketing services, which more than offset the absence of $60 million of political revenue in the same period last year.
Dish Network posted a better-than-expected quarterly profit on Thursday, as the satellite TV service provider surprised Wall Street by adding more pay TV subscribers. It increased its subs by 148,000 in the quarter, compared with analysts’ estimates for a loss of 166,000, according to research firm FactSet.
An increase in retransmission consent revenue of $26 million, or 15%, to $196 million couldn’t quite offset lower advertising dollars. The company also authorizes a $150 million share repurchase.
Total revenue reached $2.67 billion. Core divisions housing cable and broadcast operations posted single-digit growth. The Television segment had revenue of $1.36 billion, an increase of $79 million (6%). Affiliate and “other” revenue offset declines in advertising.
The growth was fueled by increases in distribution and digital revenues.
The quarterly numbers reflect the 12-day contribution and expenses from the acquired Tribune stations. Total spot revenue grew 11% to $290,213,000.
Troubled measurement company Comscore announced that Bill Livek has been named CEO as the company reported a loss for the third quarter and a decline in revenues.
On Monday, Google parent Alphabet met growth expectations for its key moneymaking businesses — notably its advertising business, which reported revenues that increased 17% to $33.9 billion during the quarter. But Alphabet’s capital expenditures grew at the same time, rising to $6.7 billion in the period as Google continued to expand its headquarters and build data centers for its cloud computing business.
Amazon’s third-quarter earnings fell short of street expectations on Thursday, driving its stock down roughly 7% in after hours trading.
Twitter Inc. posted worse-than-expected third quarter revenue and profit on Thursday, which the company attributed to advertising problems including product bugs and unusually low demand over the summer, sending its shares down about 15%.
Comcast reported strong overall results for the third quarter this morning, with earnings per share of 79 cents and total revenue of $26.83 billion, as cable results overcame softness at NBCUniversal. Revenue at NBCUniversal dropped 3.5% to $8.3 billion. Broadcast TV was especially hard-hit, with revenue decreasing 9.1% to $2.2 billion, with World Cup broadcasts on Telemundo setting a high bar in the third quarter of 2018.
The latest sign of the challenges facing Netflix emerged Wednesday with the release of its third-quarter results. The numbers provided further evidence that Netflix’s salad days may be over, particularly in the U.S., where most households that want its 12-year-old streaming service already have it.