Earnings
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Endeavor Swings to Net Loss of $303.5 Million in Q1
Executives will not hold an earnings call due to a pending take-private transaction with Silver Lake, which will close by the end of Q1 2025
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Business -
Warner Bros. Discovery Narrows Q1 Net Loss 10% to $966 Million, but Studio Profit Drops 70%
The streaming segment posted $86 million in profit and added 2 million DTC subscribers for 99.6 million globally
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AMC Theaters Q1 Revenue Flat Year-Over-Year Amid Weak Box Office
The theater chain reported $951 million in revenue and slashed its net losses by 72% to $163.5 million
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Movies -
News Corp. Q3 Net Income Falls 29% As News Media Advertising Revenue Declines
CEO Robert Thomson warns of rising tide of “AI-fueled falsehoods” in an “era of polarization”
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Media -
Disney Shares Tumble 9% on Softer Q3 Outlook Despite Nearing Streaming Profitability
The House of Mouse warned its entertainment DTC business would swing to a third quarter loss after posting a $47 million profit
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Fubo CEO Encouraged by Support From Competitors in Battle Against Disney-Fox-WB Sports Venture: ‘An Existential Challenge’
David Gandler says the streamer has had strong backing in its plan to take down the joint venture
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Apple Revenues Slip 4% to $90.75 Billion on Weaker Device Sales
Net income also fell 2% to $23.64 billion despite the device maker scoring a 14% jump in Services revenues to a quarterly record
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Cinemark Stock Jumps as $579 Million Q1 Revenue Beats Expectations
The Texas-based theater chain dipped just 5% from 2023 revenue despite lower box office performance compared to last year
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Movies -
Amazon’s Prime Video Ad Tier Helps Boost Q1 Ad Revenue By 24% to $11.8 Billion
The Big Tech company, which launched the ad tier in January, also saw an 11% jump in overall subscription revenue
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Paramount Narrows Streaming Loss 44% to $286 Million, Tops 71 Million Subscribers
The media conglomerate declined to take analyst questions following the departure of CEO Bob Bakish
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Roku Stock Reverses Gains After Streamer Warns Adjusted Earnings Will Moderate in 2nd Half of 2024
Shares fell over 2% despite the company beating Wall Street expectations for the first quarter of 2024 on Thursday
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Comcast Shares Tumble Over 6% Despite Earnings Beat as Company Bleeds Pay TV and Broadband Subs
Meanwhile, Peacock narrowed its streaming loss to $639 million while hitting 34 million subscribers
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Wall Street Flashes Concerns Over Meta’s Expensive Push Into AI Development
Despite beating estimates and doubling its Q1 net income to $12.37 billion, the tech company’s shares fell 16% in after-hours trading
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News -
Spotify Shares Jump 12% as Streamer Swings to Q1 Profit
The Swedish company credited its growing list of offerings, including videos and audiobooks, for the strong results despite slowing subscriber growth
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Netflix Shares Sink 7% as Disappointing Forecast Weighs on Shares
Increased subscribers gave the streamer a nearly 15% first-quarter revenue jump, but Wall Street saw its full-year guidance as weak