The gains in the standalone online service in the eight months since its launch last year didn't seem to wow investors. Stifel analyst Benjamin Mogil said the 3.2% gain in HBO subscriber revenue came below the 4.7% Wall Street expected.
HBO Now Signed 800,000 Subs Since April
NEW YORK (AP) — HBO Now has gained about 800,000 paying subscribers since it launched on Apple TV in April, contributing significantly to the 2.7 million net new HBO customers last year.
The figure was revealed by HBO CEO Richard Plepler in a conference call following the release of parent Time Warner Inc.’s quarterly earnings results.
The gains in the standalone online service didn’t seem to wow investors. Stifel analyst Benjamin Mogil said 3.2 percent gain in HBO subscriber revenue came below the 4.7 percent Wall Street expected.
Revenue at Time Warner also fell 6 percent to $7.08 billion, below the $7.55 billion expected by analysts polled by Zacks. Earnings of $1.06 per share beat the $1.01 that analysts were expecting.
Shares fell less than a percent to $62.79 in midday trading Wednesday.