Comcast (CMCSK) reported results right in line with Wall Street expectations for 3Q15. Revenues grew 11% and Operating Cash Flow gained 8.4%. CMCSK is really two entities, the core Comcast Cable business now operated under the Xfinity brand, and the entertainment businesses operated at NBC Universal. NBCU consists of the NBC TV Network, cable TV […]
Alphabet (formerly known as Google and still trading as GOOG/GOOGL) reported good results in 3Q15. This marks the second consecutive quarter that the company has beaten Wall Street expectations after a string of slightly disappointing results. The shares responded, rising from $500-550 for much of the first half of the year to over $700 today. […]
ClubCorp (MYCC) reported earnings largely in line with management forecasts although a bit below more optimistic analyst estimates. Revenues are tracking perfectly for 2015 but operating margins are a bit light as improved profitability at the large Sequoia golf acquisition is bit behind schedule. Nothing in the story has changed at all. MYCC is on […]
ClubCorp (MYCC) reported second quarter results that show our investment thesis is on track. MYCC reaffirmed their full year guidance. Same store sales and EBITDA continue to grow steadily as MYCC invests in club reinventions. Recent acquisitions are driving more dramatic growth on the top and bottom line, and cost synergies have met expectations. MYCC […]
Liberty Global (LBTYK) reported results right in line with Wall Street estimates for its 2Q15. Adjusted growth in revenues and operating cash flow were both up about 3%. We expect that 2Q15marked the last quarter where LBTYK reports slower growth. Management agrees and reiterated its guidance for a pickup to mid-single digit growth or higher […]
For the second straight quarter, ATVI beat street expectations on the top and bottom line and raised full year guidance for both. The strong results were driven by a continuing shift to higher margin digital revenues and ATVI’s increasingly diversified franchise portfolio. The market responded by sending ATVI’s shares up over 10%. Our investment thesis […]
Liberty Media (LMCA/LMCK) reported a typically quiet quarter. Over 80% of the value in Liberty is represented by the company’s controlling stake in Sirius XM Satellite Radio (SIRI). SIRI reported a great quarter a few weeks ago with better than expected subscriber growth and financial results. Management raised 2015 guidance and we still think the […]
CBS reported most inline results for 2Q15 with a bias slightly above Wall Street estimates. In a rough week for media stocks due to cord cutting fears triggered by Disney’s report, CBS share held up much better than average. Northlake agrees as CBS is much less exposed to cord cutting fears than other media stocks. […]
Disney (DIS) reported slightly better than expected earnings for the quarter ending June 2015. The results continue a string of results above expectations driven primarily by the incredible success of the company’s content strategy including hit films from Marvel, Pixar, and Disney Animation. This success is projected to continue later this year with another Pixar […]
La Quinta (LQ) reported solid operating results for the second quarter despite some headwinds and investor worries. Revenue and EBITDA matched Wall Street estimates despite three unexpected issues. First, the massive rainfall and flooding in Texas impacted occupancy in the state, which contains 25% of LQ’s hotels. One LQ hotel in San Marcos was flooded […]
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