Latest in First Quarter Earnings

Proceeds from retransmission consent drove a 3% increase in revenue for Tribune Media in the first quarter, but the company also saw a 3% gain in expenses due to higher network affiliate fees. The quarterly report is likely one of its last as a stand-alone company. Nexstar Media’s pending $4.1 billion acquisition of…

Sinclair Broadcast Group, fresh from announcing its acquisition of 21 formerly Fox-owned regional sports networks that were sold off by Disney, reported mixed first-quarter financial results. Earnings per share of 23 cents fell short of Wall Street analysts’ estimates and dropped nearly in half from the 42 cents…

CBS Corp. met Wall Street analysts’s expectation for first-quarter earnings, at $1.37 per share, but fell short of revenue targets by $140 million despite reaching a company-record level for the quarter, at $4.17 billion. Revenue rose 11% over the same quarter a year ago, powered by on stronger ad revenue, including…

Discovery, reporting financial results on a pro forma basis for the last time after closing the Scripps Networks Interactive deal, posted first-quarter numbers that met Wall Street expectations for revenue and beat them for earnings. Revenue rose 17% (or 21% excluding the impact of foreign currency fluctuations) from…

Alphabet, the parent company of Google, reported first-quarter earnings of $9.50 per share, well below Wall Street forecasts, as a European Commission fine put a dent in its results. Not counting the $1.7 billion fine, earnings would have hit $11.90 a share. Analysts had expected $10.58. Revenue gained nearly 17% over…

Amazon more than doubled its profits in the first quarter compared with the same period a year ago, while also clearing the high revenue bar set by Wall Street. Earnings per share came in at $7.09 on a diluted basis, compared with $3.27 in the 2018 quarter. Analysts had expected $4.72 a share. Total revenue of $59.7…

Comcast beat Wall Street forecasts for first-quarter earnings, coming in at 77 cents a share, well ahead of the consensus estimate of 68 cents. Revenue rose 18% to $26.9 billion, but fell short of forecasts for $27.3 billion, largely due to comparisons with a 2018 quarter that included the Winter Olympics and the…

Facebook reported strong first-quarter results, with solid growth in users and revenue, though the company said it has incurred a loss of between $3 billion-$5 billion from a federal probe into its data use practices. Total revenue rose 26% to $15.077 billion, ahead of Wall Street analysts’ consensus forecast…

Netflix is to launch a top ten list to give subscribers the chance to find out which of its shows are most popular in their region. The streaming service is launching an experiment in the UK in the second quarter of the year that will release a weekly top ten list of its shows across different programming categories…

Netflix revealed today in its first quarter earnings report that it has recorded its highest quarterly paid net adds in its history with 9.6 million new subscribers. Despite the healthy Q1 results, the stock down over 4% in after hours trading on a historic trading day. A lot of that comes from the billions in debt…

Disney smashed Wall Street estimates with results for its fiscal first quarter, with diluted earnings per share hitting $1.86, a full 31 cents above expectations. Total revenue of $15.3 billion trumped consensus estimates of $15.18 billion. Media Networks and Parks and Resorts set the pace with solid single-digit…

Viacom reported mixed results for its fiscal first quarter, with total revenue falling short of Wall Street forecasts due to an advertising decline in its dominant media networks unit. Earnings per share on an adjusted and diluted basis came in at $1.12, beating estimates by 9 cents, but revenue of $3.09 billion…