You would not know it from the constant headlines about cord cutting but things are going quite well at Comcast. This is because the margins are not very good on cable video subscribers which are declining, while the margins are very good and getting better on broadband internet subscribers which are growing. Also growing with […]
Facebook (FB) reported largely inline results in 2Q19 reinforcing that the company has weathered the storm surrounding the privacy issues that have plagued the stock since mid-2018. Revenue growth has decelerated and expenses are higher as management has signaled. However, in both cases the actual results have been better than expected from an investor perspective. […]
Nexstar Media Group (NXST) reported solid 1Q19 earnings with all important metrics matching Wall Street expectations. Core advertising, retransmission fees, and profit margins all stayed on the recent positive trend. Advertising has improved since last fall providing a nice boost to investor confidence. Retransmission or subscription fees are now about half of revenues making NXST […]
Thanks to the 2Q19 earnings report, for a brief stretch, focus on Disney (DIS) turned back to the fundamentals of their current operating businesses. It turns out the news is pretty good. Theme parks are performing very well with growth prospects soon to be supported by new attractions in Orlando and Southern California. The film […]
Despite reporting another solid quarter in line with Wall Street expectations, CBS shares remain in a tough spot. The shares trade at 9X 2019 estimated earnings, barely more than half of the market multiple. The overhanging issue, which has been so for over a year, is a potential merger with Viacom. More recently, the company […]
Activision Blizzard (ATVI) confirmed it is facing a transition year in 2019 with its 1Q19 earnings report and guidance update. First quarter earnings exceeded Wall Street expectations but management guided 2Q19 below current estimates and maintained full year guidance issued earlier this year. The combination of exiting the Destiny franchise, tough competition from free-to-play games, […]
Apple (AAPL) reported weak but better than expected 2Q19 results and 3Q19 guidance. Revenues fell -5% for the second consecutive quarter. Operating profit fell -15% after declining -10% last quarter. EPS exceeded expectations but still declined -10% boosted by additional share repurchases. Net income fell -16%. Guess what? Amid all these negative numbers AAPL shares […]
On the surface, MGM Resorts (MGM) reported 1Q19 results in line with Wall Street expectations. However, the composition of the results is troubling investors. Regional casinos in the US did well. Macau showed hoped for improvement assisted by high hold at the tables. Las Vegas fell short on EBITDA. Given that the narrative on MGM […]
Alphabet (GOOG/GOOGL) reported disappointing 1Q19 earnings driven by across the board weakness in revenue trends relative to expectations. We have noted in past earnings recaps that Alphabet was holding consistently to 20% plus revenue growth despite the company’s massive size and market share. 1Q19 saw revenue growth in the upper teens, well below expectations for […]
After a tough stretch beginning with last August’s shocking guidance reduction, Facebook (FB) appears mostly out of the woods as far as the bear case goes. User growth at the core Facebook app has held up well in the U.S. and Europe despite the near constant controversies related to privacy. More importantly, advertisers appear to […]
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