“I think you’ll see us and others continue to trim some of the more marginal channels”. Mr. Burke’s comments suggest that those practices may have to change due to tumult in the pay-TV business from cord-cutting and cheaper streaming options.
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On 22 July, Northwestern Corporation (NYSE:NWE) reported financial results for the quarter ended June 30, 2016. The company had revenue of $18.74 billion for the quarter, compared to analysts’ expectations of $19.11 billion.
Revenue grew 2.8% to $19.27 billion.
The numbers were slightly higher than Wall Street forecasts. The company recent traded volume was higher than its average volume of 2.44 million shares. As a result of that work stoppage, which was resolved in late May, Verizon lost 13,000 Internet customers and 41,000 video subscribers in the second quarter. The Company has two primary businesses, Comcast Cable and NBCUniversal. Earlier this month, Comcast said it plans to integrate Netflix’s service into its X1 box after years of holding out from striking such a deal.
Comcast executives struck an optimistic note about the Rio Olympics, which kick off next week, despite some of the early controversies and negative headlines about the Zika virus. It said earnings fell 1% to 83 cents vs the 81 cent profit analysts had modeled. They now own 1.97 billion shares or 1.10% more from 1.95 billion shares in 2015Q4. Its high-speed broadband business added 220,000, now totaling 24 million. The stock now has Price to Sales (P/S) value of 2.17 where Price to Book (P/B) value stands at 3.12.CMCSA is now showing ROA (Return on Assets) value of 5% where ROE (Return on Equity) is 15.8%. Broadcast television, bolstered by the Super Bowl, delivered revenues of $2.1 billion, a 17.3-percent gain, while the cable networks contributed $2.6 billion, a 4.7-percent gain.
Universal suffered from several high-profile flops during the quarter, including the sequel “The Huntsman: Winter’s War” and the big-budget, video-game adaptation “Warcraft”.
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Second-quarter revenues were $7.2 billion, down by 1.8 percent on the same period past year. Revenue rose at both the cable-networks arm, which includes channels like Bravo, E!, USA Network, CNBC and MSNBC, and the NBC broadcast unit. Revenue at Universal theme parks soared 47% to $1.14 billion, boosted by attractions such as “The Wizarding World of Harry Potter” in its Orlando, Florida and Los Angeles parks and the addition of Universal Studios Japan.
