Latest in Second Quarter Earnings

Zoom Video Communications, one of the few U.S. companies to see its business skyrocket during COVID-19, posted a dizzying set of financial results for its fiscal second quarter Monday. Revenue jumped to $663.5 million in the period ending July 31, up 355% from the same stretch in 2019. One key metric — the number of…

Roku smashed Wall Street analysts’ consensus estimate for revenue in the second quarter, reporting a jump of 42% from a year ago to $356.1 million. Analysts had expected $315.4 million. The company now has 43 million active accounts, a rise of 41% over the same period in 2019. The Roku Channel, a key part of the…

Fox Corp. on Tuesday reported total sales of $2.42 billion last quarter, in line with expectations, down slightly (4%) from a year ago but off $1 billion from the previous three months as COVID-19 hit advertising. The company that owns Fox News, Fox Sports, Fox Entertainment and the Fox Television Stations had warned…

Walt Disney said revenue last quarter was $11.87 billion, lower than expected and down 42% from the year before with the theme park division taking a $3.5 billion hit. But diluted earnings per share (EPS) after items came in at $0.08, down from $1.34 the year before but still in positive territory. It beating Wall…

The CEO of the nation's fourth-largest exhibitor warned studios not to "leave a good party in pursuit of a better one," but called the debate over Premium VOD overblown. Greg Marcus, chief of Marcus, said Tuesday that consumers are likely to drift away from watching video-on-demand releases when things normalize…

AMC Networks said it plans to restart production on the second half of Season 6 of Fear the Walking Dead in Texas in late August, on new series Kevin Can F*** Himself in Boston at the end of September, and on Season 11 of The Walking Dead in Georgia in October. "Our ability to resume in the safest possible way is…

Cinemark reported financial results for the second quarter that revealed the massive toll of COVID-19, with $9 million in total revenue and a loss of $1.45 per share. Those figures managed to exceed Wall Street’s conservative estimates for the desolate April-to-June period, however. The No. 3 U.S. exhibitor also said…

Amazon delivered another quarter of stellar financial results as its digital business continues to thrive during COVID-19 despite logistical challenges posed by the pandemic. Total revenue for the quarter ending June 30 was $88.9 billion, more than $7 billion more than Wall Street analysts’s consensus expectation…

Comcast topped Wall Street analysts’ forecasts for the COVID-19-hit second quarter, with total revenue slipping 12% from a year ago to $23.7 billion and adjusted earnings per share reaching 69 cents. While the earnings figure declined from 78 cents in the year-ago quarter, it was far higher than the consensus…

InterPublic Group CEO Michael Roth said the company will occupy less office space because of COVID-19. “The footprint of the agency business is going to change,” he said during an earnings call with Wall Street analysts Wednesday. “Period.” Already, the parent company of McCann, Weber Shandwick and dozens of other…

Imax Corp. beat Wall Street analysts’ consensus forecast for a loss of 52 cents a share, but fell short of revenue expectations in a second quarter dominated by COVID-19. The company reported an adjusted net loss of 44 cents a share in the period ending June 30, compared with earnings of 32 cents in the prior-year…

Netflix shares stumbled out of the gate Friday, slipping nearly 8% as investors reacted to the company’s forecast for much slower subscriber growth in the second half of 2020. The downturn, which left the stock at about $485 in morning trading, comes after the company reported strong second-quarter earnings Thursday…