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Netflix Shares Rise On Surprisingly Strong Q4 Sub Growth

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Netflix credits original shows including The Crown, Marvel’s Luke Cage, and Gilmore Girls for the stronger than expected growth in subscribers in Q4 — numbers that helped to lift the stock price by nearly 8% in post-market trading. If that continues tomorrow then Netflix stock will hit an all-time high. The company reported $67 million in net income, up 55.2% vs the period last year, on revenues of $2.48 billion, up 36.0%. Analysts expected the top line to hit $2.47… Read

Awardsline

‘Deadpool’ Scribes Rhett Reese & Paul Wernick On This Awards Season’s Biggest Surprise Candidate

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Rhett Reese, Ryan Reynolds, Paul Wernick
'Deadpool' film premiere, New York, America - 08 Feb 2016
20th Century Fox Presents the New York Fan Event for 'Deadpool'

In a year filled with high achievements in entertainment, the Ryan Reynolds-starring Marvel film Deadpool was among the greatest and most surprising; and while T.J. Miller’s Weasel thinks it sounds like a “f*cking franchise,” to writers Rhett Reese and Paul Wernick, the extent of the film’s success was as startling as it was to anyone else. Released February 12 with a typically tongue-in-cheek Valentine’s marketing campaign, the movie about the “merc with a mouth” went on… Read

Business

MGM Reports $47.8M ‘Ben-Hur’ Write-Down

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MGM reported fiscal Q3 earnings that included a write-down of $47.8 million on its summer tentpole Ben-Hur, which underwhelmed at the box office with an $11M opening weekend in August on its way to a worldwide gross of $94.1 million. Paramount distributed the remake of the iconic original pic that starred Jack Huston and was directed by Timur Bekmambetov. MGM said today that adjusted earnings for the three months ended September 30, 2016 was $53.1 million, down $20M from… Read

Business

Disney Shares Recover From Fall After It Misses September Quarter Expectations

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UPDATED: Disney ended its fiscal year with a thud in Wall Street’s eyes, with September quarter numbers coming in below analysts’ expectations — but with an explanation. The company says that last year’s fiscal Q4 had one more week than this year’s. Shares initially dropped more than 3% in post-market trading. The price picked up after CEO Bob Iger — in a conference call with analysts — said he’s “bullish” about ESPN’s prospects. The stock is now up nearly 2.8%. The… Read

Business

Tribune Media Blames Low Political Ad Sales For Q3 Earnings Miss

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Tribune Media just released Q3 earnings that fell short of Wall Street expectations — and dropped its full year guidance citing “lower than expected political advertising revenues” at its TV stations as well as “a decline in core advertising revenues.” Several real estate deals helped to lift net income 423% to $145.8 million, on revenues of $518.1 million, up 6%. Analysts thought that the top line would hit $547.9 million. Taking out the real estate sales, earnings came… Read

Business

Viacom Shares Fall Even As Fiscal Q4 Finances Beat Depressed Expectations

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This is shaping up as a dreary morning for Viacom even though it just released fiscal Q4 financials that were not as terrible as it indicated in September when it took a $115 million writedown for the yet to be released Monster Trucks, and cut the dividend in half. Shares are down about 1% in pre-market trading as investors grapple with the uncertainty in global markets following the U.S. election results — and an announcement from Sony’s PlayStation Vue that on November… Read

Business

Viacom’s Channel 5 Says It’s “Sustainably Profitable” With 2016 Improvement

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Viacom shares are up about 2% this morning after investors received a dollop of encouraging news ahead of the Wednesday release of its September quarter earnings, which analysts expect to be dismal: The company’s UK-based Channel 5 Broadcasting said today that it generated a record profit in the fiscal year ending in September. That enables Channel 5, which Viacom bought in 2014 for £450 million (currently equal to $557.5 million), to “claim the first consecutive years of… Read

Business

Lionsgate Reports Fiscal Q2 Loss, But Fares Better Than Estimates

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In what is expected to be the last financial quarter that Lionsgate will report stand-alone results before ingesting Starz, the mini-major today reported revenue of $639.5 million during its fiscal second quarter. That’s up 34% year-over-year and well above the Street’s expectation of $553.6M. Still, Lionsgate said its loss attributable to shareholders was $16.9M, or an adjusted earnings per share of 11 cents. Analysts had expected a 24 cent loss. "We're making great… Read

Business

AMC Networks Misses Q3 Earnings Expectations As Low Ratings Hurt Sales

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Low ratings for shows including Fear The Walking Dead helped to undermine AMC Networks’ just-released Q3 financials, which fell short of most analysts’ expectations. Company shares are down 2.8% in pre-market trading. The programming company generated $65.4 million in net income, down 10.1% vs the period last year, on revenues of $634.6 million, up 0.4%. The top line missed Wall Street’s forecast for $660.6 million. And earnings at 91 cents a share were well below the… Read

Business

Facebook Beats Earnings Estimates Again With Q3 Numbers

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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
Facebook Breakups, Menlo Park, USA

Facebook reported third-quarter earnings today that surpassed Wall Street estimates for a fourth consecutive quarter. The social media company reported total revenue up 56% to $7.01 billion, or $1.09 earnings per share, while advertising revenue grew to $6.82B, up 59% year-over-year. Both numbers smoked analysts’ estimates. Facebook’s shares which were down 2.33 points during the regular session are picking up after after the bell, when it reported its earnings. There’s… Read

Business

Fox Beats Earnings Expectations In Fiscal Q1, Helped By News Ad Sales

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Fox investors can breath a sigh of relief. The entertainment giant’s financial results for the September quarter slightly beat expectations, faring better than Discovery Communications did with the numbers it disclosed Tuesday but without the strength Time Warner showed this morning. Fox ended its fiscal Q1 with $821 million in net income, up 21.6% vs. the period last year, on revenues of $6.51 billion, up 7.1%. The top line beat the $6.49 billion that analysts… Read

Business

CNN And ‘Sully’ Help Time Warner Beat Q3 Earnings Expectations

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Time Warner’s business operations didn’t seem to suffer in Q3 while its leaders negotiated sale terms to AT&T. The company’s just-released earnings for the quarter topped Wall Street’s expectations — leading the company to raise its outlook for the full-year numbers, and sending shares up more than 2.4% in pre-market trading. The entertainment giant generated $1.47 billion in net income, up 41.7% vs the period last year, on revenues of $7.17 billion, up 9.2%. The top line… Read