The increase to $1.4 billion from 4Q 2019 was boosted by a 717% increase in political advertising as well as higher distribution fee revenue. Core ad revenue was down 9.9%.
Discovery reported its fourth quarter and full-year 2020 financials this morning. The fourth quarter of 2020 was the final quarter before streaming service Discovery+ was launched. Wall Street had forecast earnings per share of 72 cents on $2.83 billion in revenue, according to a consensus forecast compiled by Yahoo Finance. Discovery actually reported adjusted EPS of 76 cents on $2.886 billion in revenue.
Roku continues to ride the streaming wave, reporting fourth-quarter results ahead of Wall Street expectations, with revenue shooting up 58% from a year ago to just shy of $650 million. Operating income swung from a loss in the year-earlier period to a profit of $65.2 million.
Disney’s net income fell sharply in its most-recent quarter, as the coronavirus pandemic still weighs heavily on many of its businesses, from theme parks to movies. But results surpassed Wall Street’s expectations thanks to subscribers flocking to Disney+ and other of the entertainment giant’s streaming services.
Fox Corp. beat Wall Street expectations in its fiscal second quarter, with revenue of nearly $4.1 billion improving 8% from the year-earlier period. On an adjusted basis, earnings per share rose to 16 cents from 10 cents a year ago. The consensus forecast from analysts called for revenue of $4 billion and a loss of 3 cents a share. Advertising revenue rose 14% in the quarter, helped by a record haul of political advertising by Fox stations.
For the Local Media Group (TV and related) fiscal 2Q revenues were up 53% to $328.4 million. Political spot and digital revenues shot up 96% from the previous election cycle two years ago. Political spot hit $117.7 million, while non-political TV spot advertising was down 16% to $75.3 million.
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Google/YouTube parent Alphabet saw revenue jump last quarter driven by YouTube and search. Total sales surged to $56.9 billion for the last three months of 2020 from $46 billion the year before, smashing expectations. YouTube ad revenue jumped to $6.9 billion from $4.7 billion the year before and $5 billion last quarter. Google search and other advertising revenue was $31.9 billion, from $27.2 billion the year before.
Comcast Corp on Thursday reported better than expected fourth-quarter revenue, as broadband demand continued to offset pandemic-related weakness in its theme park and filmed entertainment businesses. The media company gained 538,000 broadband subscribers in the quarter, beating analysts’ average estimate of 488,000 net additions, according to research firm FactSet.
The company earned nearly $29 billion, or $1.68 per share, in its latest quarter, a 29% increase from the same time in the previous year. Revenue surged 21% to $111.4 billion. All those numbers exceeded analyst estimates, but investors evidently had even higher hopes for Apple. The company’s stock dipped 1% in extended trading after the quarterly results came out.
Despite topping analysts’ sales and earnings expectations for the fifth time in its last six quarters, Facebook’s stock price took a minor hit on Wednesday afternoon, after the company warned in its Q4 financial report it’s facing “significant uncertainty” moving into 2021. From a financial standpoint, Facebook’s earnings per share of $3.88 easily beat Wall Street’s expectations of $3.24 EPS; the company’s $28.07 billion in Q4 revenue also topped estimates of $26.43 billion.
The subscriber milestone highlighted Netflix’s fourth-quarter results released Tuesday. The service added another 8.5 million subscribers during the October-December period to cap Netflix’s biggest year since its inception as a DVD-by-mail service in 1997. Netflix’s stock surged by nearly 9% in extended trading after the latest subscriber numbers came out.
Broadcast benefited mightily from the growing pool of political dollars this past quarter with Georgia’s runoff elections looking to extend the lucrative earnings for some companies. While political displacement fueled core declines, many CEOs say it’s still returning to strength.
Walt Disney blew past Wall Street estimates last quarter although it swung to red and revenue fell with Disneyland shuttered, and movie theaters in major markets dark. The company’s pivot to streaming with rapid growth in Disney+ have kept the buzz going and the stock well afloat
Leading Spanish-language media company Univision reported robust digital and soccer viewership as key growth drivers in its third quarter financials report. A further boost came from higher subscriber fees as well as its return to Dish Network after an almost nine-month carriage dispute with the satellite pay-TV service was resolved last spring.
Comscore, which has been in a strategic review since last year, said Monday it is in advanced discussions on a transaction with an anchor investor. The company reported a net loss and lower revenue in the third quarter.
The increase to $738 million is driven by a record-breaking quarter for political advertising revenues, and ongoing strength of subscription business.
The presidential election still hasn’t been called, but TVNewsCheck’s Michael Depp and Harry Jessell discuss the boon it has been for station groups posting their quarterly earnings this week.
The increase to $133.8 million is due to a $24.8 million increase in political advertising revenue and $3.1 million increase in retransmission revenues, partially offset by reduced local and national advertising demand related to the COVID-19 pandemic.
ViacomCBS reported total revenue of $6.12 billion and earnings per share of 91 cents in the third quarter, exceeding Wall Street estimates but reflecting ongoing headwinds from COVID-19. Revenue dipped 9% and earnings fell 17%, though both figures exceeded analysts’ consensus forecast for earnings of 88 cents a share and revenue just shy of $6 billion in the quarter ending Sept. 30. In the TV Entertainment unit, affiliate revenue rose 25% on reverse compensation and retransmission gains, while advertising dipped 1% and content licensing fell 35%.
The increase to $404 million was driven by political advertising and retransmission consent revenue which helped offset advertising losses due to the coronavirus pandemic.
Discovery Inc. on Thursday reported total revenues of $2.6 billion, off 4% from the year earlier as profit rose to $300 million from $262 million. U.S. distribution revenues increased 2% and ad revenues decreased 8%; and International distribution revenues decreased 4% and advertising revenues decreased 9%. Earnings per share was $0.44 per diluted share from $0.35.
Political advertising and retrans money drove the total to $226 million. Non-political spot was down 26%.
That increase from 3Q 2019 was boosted by a 583% increase in political advertising and its purchase last year of Tribune Media. Core ad revenue grew 31.6%.
It says the increase from a year ago to $604 million was driven by a 482% jump in political advertising and 11% higher retrans revenue.
Its purchase of 21 regional sports networks and political ad revenue push that total to $1.5 billion, while the company’s total revenue climbs 37% to $1.3 billion.
During its third quarter earnings call, Google and YouTube parent company Alphabet reported that YouTube TV subscribers had passed 3 million. That’s up from 2 million reported in February — despite a monthly price hike from $50 to $65 at the end of the third quarter, following its deal to carry legacy Viacom cable networks. The new number puts YouTube TV in second place among virtual vMVPDs, behind Hulu, with 3.4 million subscribers as of 2Q.
While all five — Amazon, Google parent Alphabet, Facebook, Apple and Twitter — exceeded analyst expectations, gloomy forecasts and other uncertainties led to share-price declines for all but Alphabet in after-market trading.
BURLINGTON, Mass. (AP) _ Avid Technology Inc. (AVID) on Wednesday reported third-quarter net income of $8 million. On a per-share basis, the Burlington, Massachusetts-based company said it had profit of 18 cents. Earnings, adjusted for stock option expense and restructuring costs, came to 27 cents per share. The results beat Wall Street expectations. The average […]
Consumer demand for high-speed internet surged last quarter at NBCUniversal parent Comcast even as theme park revenue plunged 80% in a mixed earnings report that reflected the ongoing pandemic. Peacock sign-ups hit 22 million, exceeding every internal engagement metric for the new streaming service — even without the Olympics or The Office — the company said Thursday. Revenue at NBCUniversal fell about 19% to $6.7 billion in quarter.
Tokyo-based Sony reported a 459.6 billion yen ($4.4 billion) profit in July-September, up from 188 billion yen the previous year. Quarterly sales at the maker of the PlayStation game machines, Bravia TVs and Spider-Man movies inched down slightly to 2.1 trillion yen ($20 billion).
Rohde & Schwarz said Thursday that it finished its 2019-20 fiscal year (July to June) with €2.58 billion in revenue: “The company has grown for the third year in a row with a 20% revenue increase. This proved once more that the privately owned company’s strategy focusing on sustainable business practices was the right one. […]
AT&T Inc on Thursday reported the coronavirus pandemic had taken a heavy toll on its media business, but quarterly results were offset by stronger than expected gains in new phone subscribers lifted by offers for its HBO Max streaming service for free on certain phone plans.
The drop-off disclosed Tuesday in Netflix’s latest earnings report was more dramatic than management had warned it might be. After picking up 2.2 million customers in the July-September period, Netflix finished the quarter with 195.2 million worldwide subscribers. Earlier, company had forecast an addition of 2.5 million subscribers during the quarter.
Broadcasters saw their ad revenues recovering strength in the second quarter with help from categories like pharmaceuticals, insurance and financial. Political ads are helping to offset the pandemic impact and new-to-television advertisers are also coming into the fold.
Virtual MVPD fuboTV posted a net loss of $99.8 million during the second quarter as its subscriber count held mostly steady. The company’s 2Q revenues totaled $44.2 million, up 53% year over year on a pro forma basis. The company attributed the growth an increase in subscription Average Revenue Per User (ARPU), which rose 8% to $54.79, and growth of advertising sales. Subscription revenue rose 51% to $39.5 million and advertising revenue rose 71% to $4.3 million.