TVN FOCUS ON 3Q EARNINGS

TVN Focus | Legal Ads Grow, Election Windfall Approaches

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.

QUARTERLY REPORT

CBS Beats 3Q Earnings Estimates

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.

QUARTERLY REPORT

Nissan Quarterly Profit Plunges 70%

Nissan reported flat North American profit in its latest quarter and narrowed its loss in Europe, while global earnings fell.

QUARTERLY REPORT

Entravision’s 3Q TV Revenue Comes In Flat

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.

EARNINGS CALL

Scripps Saw No Impact From GM Strike

“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.”

QUARTERLY REPORT

Meredith Station Quarterly Revenue Down 10%

Increases in core, digital and retrans money fail to offset lower political and greater reverse comp.

EARNINGS CALL

Scripps 3Q Local Media Rev Up 9.4%

The increase to $252 million was aided by a 21% rise in retrans revenue and higher core advertising.

QUARTERLY REPORT

Graham 3Q TV Revenue Drops 11%

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.

QUARTERLY REPORT

Disney Tops Wall Street’s 4Q Estimates

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.

QUARTERLY REPORT

Tegna 3Q Revenue Moves Up 2%

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.

QUARTERLY REPORT

Dish Exceeds Quarterly Profit Estimates

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.

Discovery Beats Wall Street’s 3Q Earnings Mark

QUARTERLY REPORT

Gray 3Q Pro Forma Revenue Down 5%

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.

QUARTERLY REPORT

Fox Corp. Beats Wall Street’s 1Q Estimates

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.

QUARTERLY REPORT

Sinclair 3Q Media Revenue Climbs 47%

The growth was fueled by increases in distribution and digital revenues.

QUARTERLY REPORT

Nexstar 3Q Revenue Drops 4.2% To $664M

The quarterly numbers reflect the 12-day contribution and expenses from the acquired Tribune stations. Total spot revenue grew 11% to $290,213,000.

More Turnover At Comscore: Livek Named CEO

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.

QUARTERLY REPORT

Google Falls Short On 3Q Profit

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.

QUARTERLY REPORT

Amazon Stock Drops On Earnings Miss

Amazon’s third-quarter earnings fell short of street expectations on Thursday, driving its stock down roughly 7% in after hours trading.

QUARTERLY REPORT

Twitter Rev Hit By Lower Advertising, Demand

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%.

QUARTERLY REPORT

Comcast Beats Wall Street 3Q Estimates

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.

QUARTERLY REPORT

Ford 3Q Earnings Fall 57% Amid Restructuring

Ford Motor Co. on Wednesday reported a 57% drop in third-quarter net income and lowered its full-year profit guidance, citing anticipated higher warranty and incentive costs and weaker sales in China. CFO Tim Stone said Ford now expects total 2019 earnings before interest and taxes of $6.5 billion to $7 billion, down from its earlier projection of $7 billion to $7.5 billion. That would represent a decline from the $7 billion earned in 2018.

QUARTERLY REPORT

Netflix US Subscriber Growth Slows

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.

EVS 2Q: A Case Study About Changing Market Drivers

QUARTERLY REPORT

Univision Reports Lower 2Q Revenue, Income

Univision reported revenue fell 4% to $701.7 million. What the company describes as core revenue dropped 3.5% to $694.5 million. It also posted lower second-quarter net income, it fell 21% to $90.7 million from $114.3 million a year ago.

QUARTERLY REPORT

Tribune 2Q TV Revenue Off 1%

Tribune Media today reported second quarter 2019 earnings results that included Television and Entertainment Segment revenue of $482.6 million compared to $486.4 million in the second quarter of 2018, a decrease of $3.9 million, or 1%. The company said the decrease was driven by a $17.6 million decrease in political advertising revenues and a $6.4 […]

QUARTERLY REPORT

Scripps 2Q Local Media Rev Dips 4.3%

The drop in pro forma revenue was offset somewhat by a 10% increase in retrans revenue.

QUARTERLY REPORT

Roku Reaches 30M Subs, Exceeds 2Q Predictions

QUARTERLY REPORT

CBS Posts Record 2Q Revenue And Profit

Reporting second-quarter results on the same day that sister company Viacom reported its own stellar financials, CBS set records for revenue, adjusted operating income and earnings per share. The EPS figure of $1.16 beat Wall Street estimates by three cents and revenue of $3.81 billion also cleared the bar set by analysts by a good $100 million, up 10% from the year-earlier period.

QUARTERLY REPORT

Viacom Earnings Top Wall St. Expectations

With its anticipated re-coupling with CBS casting a shadow, Viacom reported third quarter earnings that beat Wall Street forecasts on Thursday. For the three months ending on June 30, the film and TV conglomerate reported revenue of $3.36 billion and an adjusted diluted earnings-per-share of $1.33. Media analysts had forecast earnings per share of $1.06 and $3.33 billion in revenue.

QUARTERLY REPORT

Fox Corp. Beats Wall Street Estimates

Fox Corp. beat Wall Street estimates in its first full quarter as a stand-alone company, with affiliate revenue and digital licensing powering the performance. Revenue of $2.51 billion beat the Street’s outlook of $2.47 billion. Fox credited affiliate revenue growth of 7%, driven by an 18% increase in its television unit. Another boost came from a 78% increase in other revenues, primarily due to higher digital content licensing revenues in the TV unit.

QUARTERLY REPORT

Gray 2Q Rev Flat; Retrans Offsets Spot Drop

Retrans revenue rose 23% to $201 million in the quarter, just enough to push total revenue for the station group into the black. Dragging down the top line was spot. Political took a big downturn as it always does in odd-numbered years, but core was also off.

QUARTERLY REPORT

Sinclair 1Q Media Revenue Grows 3.5%

The increase to $696 million is boosted by higher digital and distribution revenues. Overall, the company revenue was up 30% over 2Q 2018.

QUARTERLY REPORT

Nexstar 2Q Revenue Drops 10.3%

However, factoring out political results in a 2.7% increase. Retrans grows 13.8% to $314 million.

QUARTERLY REPORT

Disney Misses Quarterly Earnings Estimates

CEO Bob Iger said one of the biggest issues affecting earnings was underperformance at the Fox movie and TV studio. Tuesday’s results, the first complete quarter with Fox’s businesses included, missed Wall Street’s expectations. Disney’s shares fell 3% in aftermarket trading.

QUARTERLY REPORT

Tegna 2Q Revenue Moves Up 2%

The increase to $537 million is powered by subscription revenues and an improvement in advertising and marketing services.

QUARTERLY REPORT

Graham 2Q TV Revenue Increases 2%

The rise is attributed to $4.8 million in higher retransmission revenues, partly offset by a $3.4 million decrease in political advertising revenue.

QUARTERLY REPORT

Nielsen Reports Higher Second-Quarter Earnings

Net income rose 71% to $123 million, or 34 cents per share, from $72 million, or 20 cents per share a year ago. The company says it expects its strategic review to be completed by the time it releases its third-quarter financial results.

Sony Pictures Swings To Quarterly Profit Of $3.7M

Sony Pictures posted a profit of $3.7 million for the fiscal first quarter, which ran April to June, compared to a $68 million loss in the same period last year, Sony Corp. reported in Tokyo on Tuesday.

QUARTERLY REPORT

Dish Loses 31,000 Subs In Second Quarter

Dish reported losing around 79,000 Dish TV subscribers during the latest quarter, while adding around 48,000 Sling TV subscribers.