Latest in Earnings

Hispanic media giant Univision Communications swung to a loss in the fourth quarter from a profit in the year ago period, as revenue inched up 4%. The privately held company reported revenue in the period of $722.9 million, up from $692.9 million and a loss from continuing operations of $39.1 million. In the same…

UPDATE, writethru with more detail: Cineworld Group today reported a $2.258B operating loss for the year ended December 31, 2020. This is the company’s first-ever annual profit loss and includes asset impairments of $1.34B as the exhibition industry has been severely impacted by the Covid pandemic. The figure compares…

Dalian Wanda, which acquired AMC Entertainment in 2012, surrendered control of the struggling exhibitor as it issued and sold tranches of new stock to raise cash — diluting the stake of the Chinese conglomerate. CEO Adam Aron confirmed the Wanda era was over although the company continues to be AMC largest single…

AMC Entertainment revenue plunged last quarter to $162 million from close to $1.5 billion the year before as the global pandemic squeezed exhibition. That beat expectations, coming about $20 million above Wall Street's consensus estimates. The stock is up 3% in late trading. Net losses widened to $946 million…

National CineMedia, operator of the nation's largest cinema advertising network, saw sales plunge and it swung into the red last quarter as more than half of all theaters were shuttered. On a conference call, execs noted recent agreements to expand outside of cinemas and said the company will be announcing another, a…

Imax sales slumped last quarter but beat Wall Street estimates and it swung to a loss. The stock popped in late trading as the company highlighted a strong box office in China and Japan, upbeat outlook and continued sales of its big-screen systems despite the pandemic. Revenue of $56 million was down from $124 million…

Marcus Corp., which runs the fourth-largest movie theater circuit in the U.S., posted fourth-quarter results below Wall Street forecasts, but execs point to brighter days in the next few months. “If the film schedule holds,” CFO Doug Neis said during a conference call with analysts, “we have much higher hopes that…

FuboTV ended 2020 on an upswing, reporting $105.1 million in revenue and 547,880 subscribers to its internet-delivered pay-TV bundle. The company reported a net loss of $167.8 million in the period. That figure as well as the revenue number — Fubo’s first quarter above $100 million — beat Wall Street analysts…

Despite shakiness in the overall sports economy, with declining TV ratings and event revenue due to Covid-19, DraftKings is wagering on the continued health of the sports betting business. The online gaming firm reported fourth-quarter results ahead of Wall Street forecasts, with revenue of $322 million and a loss of…

Mark Zoradi, CEO of major exhibitor Cinemark and a former longtime Disney executive, sees some familiar elements on the summer release calendar, which he sees as a potential Covid-19 recovery turning point. “The last weekend in May, in that traditional beginning of summer, you have Cruella from Disney and you have F9…

AMC Networks ended 2020 with more than 6 million subscribers for its AMC Networks streaming services across recently launched AMC+, Acorn TV, Shudder, Sundance Now and ALLBLK– up 157% year-on-year. The company Friday reported fourth quarter earnings that beat Wall Street forecasts. Revenue slipped 0.6% to $780.3…

ViacomCBS topped Wall Street analysts’ expectations for its fourth-quarter results, reporting diluted earnings per share of $1.04 and total revenue of just shy of $6.9 billion. The consensus forecast by analysts was for earnings of $1.01 and revenue of $6.9 billion, up 13% and 3%, respectively, from the same quarter…