Latest in Earnings

Cinemark, the nation’s third largest movie chain, said revenues for the first quarter ended in March fell to $114 million from $543 million the year before. Admissions revenues stood at $56 million and concession revenues $39 million. Attendance was 7.7 million, average ticket price was $7.25 and concession revenue…

Fox Corp. CEO Lachlan Murdoch said Fox News is not about to adjust its political orientation despite a bumpy period during and after the 2020 presidential election and a recent slip in its ratings. The network’s ratings have dropped about 13% in recent weeks, putting the network in the rare position of trailing CNN…

Google/YouTube parent Alphabet saw revenue jump last quarter driven by YouTube and search as advertising recovered. The giant company’s 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…

Comcast CEO Brian Roberts and NBCUniversal chief Jeff Shell are upbeat the Summer Olympic Games in Tokyo will go forward as planned and said advertisers are optimistic as well, based on what they’re seeing. “Sitting here today, I believe there will be an 0lympics. I hope there will bee an Olympics. I think that is our…

NBCU’s streaming service Peacock has hit 33 million signups across the U.S. to date, parent Comcast said Thursday. That’s up from 28 million on Dec. 8 when execs last updated the figure at an investor conference. Peacock launched nationally in July with two tiers. Peacock Premium, $4.99 a month with ads, and Peacock…

Facebook chief Mark Zuckerberg said the social media giant is taking steps to reduce the amount of political content on its platforms and in its news feeds to channel users to more "healthy communities.” "What we are hearing is that people don't want politics and fighting to take over their experience on our service,&#8221…

UPDATED with closing stock price. A number of Wall Street analysts have increased their price targets for Disney’s stock after the media giant reported better-than-expected quarterly earnings and outlined its streaming-focused future. Shares closed Friday at $138.41, up more than 2% on twice the normal trading volume…

Shares in DraftKings gained in early trading after the major sports betting outfit raised its 2020 revenue guidance and reported third-quarter earnings that exceeded Wall Street analysts’ expectations. The stock is below its late-September peak of $64.19, but climbed 7% to pass $44 amid optimism that the return of…

In his first extensive public comments about the major restructuring implemented in October, Disney CEO Bob Chapek said it has elicited “100% buy-in” from executives at the company. With the new structure in place, he added during a Thursday call to discuss Disney’s fourth-quarter and full-year earnings, it will be…

Disney+ reported 73.7 million subscribers as of September 30, with ESPN+ topping 10 million for the first time. The numbers were included in Disney’s fiscal fourth quarter earnings release, which showed a media giant battered by COVID-19 but one that nevertheless exceeded Wall Street’s financial forecasts. ESPN’s…

Sinclair Broadcast Group edged Wall Street analysts’ estimate for revenue in the third quarter, reporting $1.54 billion as the acquisition of 22 formerly Fox-owned regional sports networks hit the balance sheet. The revenue number rose 37% thanks to the RSNs, but the deal also proved problematic given the timing of…

Fox Corp. beat Wall Street analysts’ forecasts for its fiscal first quarter, delivering revenue of $2.72 billion, but COVID-19 continued to take a toll on the broadcast and cable TV company. Even a record-setting political advertising haul in the quarter ending September 30 couldn’t prevent an overall decline in ad…