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AMC Networks Shares Jump After Q4 Earnings Top Expectations – Update

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UPDATE with stock trading info: AMC Networks shares soared about 13% this morning after the programmer reported Q4 earnings that topped Wall Street expectations. CEO Josh Sapan said in December that advertising in the year-end period looked lighter than he had anticipated. Some analysts followed by slashing their ad sales estimates, figuring that the number would be roughly flat with last year. But today’s report shows that domestic ad sales were up 3.1%, with price hikes… Read

Business

Dish Network CEO: Streaming Video Is Starting To Replace Traditional Pay TV

Dish Network CEO Charles Ergen, San Francisco, USA

Providers of streaming services such as DirecTV Now and Sling TV typically try to calm the fears of programmers that like the lucrative traditional pay TV bundle by saying that they aim to supplement, not replace, it. But Dish Network CEO Charlie Ergen doesn’t buy that anymore. The so-called over the top (OTT) services are “becoming a direct replacement for cable and satellite,” he said in a call to discuss his company’s Q4 performance. And programmers who want to keep… Read

Business

Univision: U.S. Is A “Primary” Market For Televisa Programming Following Deal

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The U.S. will become “a primary place for distribution of content, not a secondary place” for Mexican media giant Grupo Televisa following last month’s agreement with Univision to blend their production operations, Univision CEO Randy Falco told his investors this morning. The agreement expanded the responsibilities for Univision’s Isaac Lee, making him Chief Content Officer of both Univision and Televisa. Falco says he’s optimistic about the change based in part on the… Read

Business

Charter Talks Up Mobile Plans As It Ends Time Warner Cable Video Discounts

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Charter Communications is the No. 2 cable provider — but it’s starting to sound more like a wireless company based on CEO Tom Rutledge’s comments to analysts in this morning’s conference call to discuss Q4 earnings. Much of the talk involved Charter’s plan to introduce a mobile service in 2018 that blends its wifi services with Verizon’s cell network. “Our goal is to include wireless services in our packages and drive more customer relationship growth,” Rutledge says. In… Read

breakingBusiness

CBS Beat Q4 Earnings Expectations; Revenues Hit By Radio And NFL Changes

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CBS appears to have come through its Q4 period relatively unscathed, despite a Thursday Night Football deal that left it with three fewer games than it had in 2015, and anemic ratings as some football fans turned to news channels to keep up with the unusual election. Adjusted earnings came in at $1.11, a penny ahead of analyst expectations. Revenues at $3.52 billion were down 2% as reported — but were scrambled a bit by its agreement this month to merge its radio division… Read

Business

Discovery Beats Q4 Expectations On Earnings, But Not On Revenues

Discovery Communications

Like a lot of media companies this earnings season, Discovery Communications just reported mixed results in its Q4 report with revenues falling short of analyst expectations, but with an earnings beat. The company reported net income of $304 million, up 38.8% vs the period last year, on revenues of $1.67 billion, up 1.6%. The Street thought that revenues would hit $1.69 billion. But earnings, at 52 cents a share, exceeded expectations for 47 cents. "Discovery's… Read

breakingBusiness

Viacom Unveils Reorganization Plan Focusing on Flagships Brands

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Viacom CEO Bob Bakish will focus on six “flagship brands” — BET, Comedy Central, MTV, Nickelodeon, Nick Jr., and Paramount — as part of his long-awaited company reorganization, out this morning with its year-end earnings. The brands “will be the company’s highest priorities and will benefit from significant and increased resource commitments,” Viacom says in its release. Other brands “will be realigned to reinforce the six flagship brands,” it adds. The CEO says that… Read

Business

Lionsgate Year-End Revenues Fall Short Of Expectations As Earnings Adjust To Starz

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Nobody knew what to expect from Lionsgate’s first earnings report after it bought Starz, and the release out this afternoon for the last three months of 2016 will leave many continuing to scratch their heads. The results include a $52 million restructuring cost, a $28 million loss from debt extinguishing, and a $20 million gain from Lionsgate’s investment in Starz stock. The net result was a $31 million loss, down from a $33 million profit in the period last year, on… Read

Business

Disney Beats Year-End Earnings Expectations, But Revenues Fall Short

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Disney ended 2016 beating Wall Street’s earnings expectations, but apparently not doing well enough to outweigh a disappointing number on its top line. The entertainment giant generated $2.48 billion in net income, down 13.9%, on revenues of $14.78 billion, down 3.0%. Analysts thought they’d see $15.26 billion. This was Disney’s fiscal first quarter. But earnings at $1.55 a share topped forecasts for $1.50. Disney shares are down 1.9% in initial post market trading after… Read

Business

Fox Delivers Mixed Year-End Financials Helped By Politics And World Series

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Everyone knew that Fox ended 2016 strongly with help from an exciting 7-game World Series, and an even more exciting political season boosting news viewers and ads. But the financial numbers the company just released for its fiscal Q2 were not quite as impressive as investors hoped. The result: Fox shares are down about 1.4% in post-market trading. The entertainment giant generated net income of $856 million, up 27.4% vs the last three months of 2015, on revenues of $7.68… Read

Business

Amazon Shares Dip After It Reports Q4 Revenues Below Expectations

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Amazon’s stock price dropped 3.8% in post market trading after the e-retailer’s Q4 earnings report showed it failed to deliver the revenues that Wall Street expected. It generated $749 million in net income, up 55.4% vs the period in 2015, on revenues of $43.74 billion, up 22.4%. Analysts anticipated revenues of $44.68 billion. Earnings at $1.54 a share beat expectations for $1.35. CEO Jeff Bezos touts Amazon Prime Video, which “is now available in more than 200 countries… Read

Business

Facebook Shares Rise As Q4 Earnings Beat Expectations

Mandatory Credit: Photo by Ben Margot/AP/REX/Shutterstock (6205028a)
Facebook A sign at Facebook headquarters in Menlo Park, Calif. The heartache of a broken relationship may soon become less painful on Facebook. The world's largest social network is trying to help people who have split up with a spouse or lover, offering a new feature that spares them from constantly seeing their former partner's posts and pictures in their news feed
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Facebook CEO Mark Zuckerberg started his Q4 earnings report with an intriguing statement: “Our mission to connect the world is more important now than ever,” he said. “Our business did well in 2016, but we have a lot of work ahead to help bring people together.” But most people reading the release will be more taken by the stronger-than-expected numbers. They helped to lift the stock by about 2.4% in post-market trading. They seemed to offset any concerns investors might… Read