Liberty Global (LBTYK) reported its slowest quarterly growth of 2013 in the December quarter, with low single digit gains in revenue and operating income. The numbers were not a surprise as a difficult competitive environment in the UK and Netherlands and initial dis-synergies form the acquisition of Virgin Media in the UK held back results. […]
Discovery Communications (DISCK) reported results roughly in line with Wall Street estimates and provided 2014 guidance just a little below expectations. Estimates for the December quarter and 2014 had been falling recently as DISCK’s leading U.S. networks, Discovery and TLC, had a rough patch of lower ratings. The stock has performed poorly during this period […]
CBS reported another healthy quarter and provided reassuring commentary on the near-term and long-term outlook. Revenues grew 6% and segment level operating cash flow grew 7%, both ahead of expectations. Advertising at the CBS Network grew 4%, better than feared given concerns over ad demand and pricing that arose following the government shutdown. Management noted […]
Disney (DIS) reported better than expected first quarter results with all divisions except ABC performing ahead of Wall Street estimates. EPS of $1.04 exceeded street consensus of 91 cents with over half the beat coming from operating factors. DIS faces a few quarters of tougher comparisons and slower growth but investor sentiment should stay very […]
Google (GOOG) reported another good quarter. Please note I am defining “good” as satisfactory to investors. GOOG went through a roughly six quarter stretch in 2012 and early 2013 where despite showing sustained 20% plus growth, investors were concerned. These last two quarters have addressed the concerns and GOOG shares have moved up sharply to […]
I often think that my best analysis comes from real-time commentary as I listen to the conference calls that accompany the quarterly earnings reports from the companies I follow. In the past, I have offered my twitter comments on Apple (AAPL). Below are my instant message comments sent to a colleague who helps me out […]
Comcast (CMCSK) reported another excellent quarter and indicated the outlook for 2014, and even 2015, is strong. Showing confidence in its business strategy, execution, and growth potential, the company increased the dividend by 15% and expanded its share buyback program by $3 billion. The headline financial metrics for the fourth quarter were impressive: revenue +5.8%, […]
Liberty Media (LMCA) and its former subsidiary Starz (STRZA) reported earnings last week. LMCA is an asset play where value is created through its ownership of significant stakes in other public companies, including a majority interest in Sirius XM Satellite Radio and 25-30% stakes in Live Nation Entertainment (LYV) and Charter Communications (CHTR). LMCA also […]
Liberty Global (LBTYK) reported results that matched Wall Street expectations with rebased revenue and EBITDA growth of 3%. New subscriber growth surprised meaningfully to the upside following last quarter’s disappointing growth. Investors have been worried about the second half of 2013 growth due to tough competition in Netherlands and England and last quarter’s modest slowing […]
Qualcomm (QCOM) reported 4Q13 results mostly in line with expectations. However, guidance for 2014 indicated slower growth in units and a slight decrease in average selling prices. The guidance led analysts to reduce their outlook for revenues and operating income for 2014. However, QCOM’s commitment to large share repurchases leaves earnings estimates unchanged at a […]
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