Latest in Earnings

Lionsgate Thursday reported $50 million in costs last quater due to COVID-19, said it anticipates more are coming and that it’s seeking insurance to cover what it can. The last media and entertainment company to report its March quarter as earnings season ends, Lionsgate posted revenue for the three months of $944…

Chicken Soup for the Soul Entertainment, which runs ad-supported streaming networks like Crackle, reported a mixed bag of first-quarter results, with record viewership during the onset of COVID-19 but also advertising uncertainty. The company reported an all-time high number of visits to Crackle and Popcornflix in…

UPDATE, writethru: Sony Corp reported its full year 2019 earnings from Tokyo this morning with a 28.4% dollar increase in profits at Sony Pictures Entertainment. The division recorded $628M in operating income, up from $489M the previous year. The significant hike, which is through March 31, 2020, just after the corona…

Live Nation Entertainment CEO Michael Rapino is as excited as anyone to hear the NFL schedule tonight – so he knows what stadiums will be available to book and when as artists start touring again later this year. "Traditionally they [sports leagues] announce the season and … then we can set the dates," he said. The…

Roku delivered strong results in the first quarter, with the onset of COVID-19 propelling an 80% rise in total streaming hours in April as linear TV viewing in younger demos showed declines. Total revenue rose 55% from the year-earlier quarter to reach $320.8 million, ahead of Wall Street analysts’ estimates. The…

ViacomCBS Thursday reported declines in revenue and profit for three months ended in March but its numbers beat expectations sending the stock up close to 20% in early trade. It can really use the pop. As of yesterday’s close, the shares were down about 65% year to date. The company said revenue for its full quarter…

Fox said revenue for its fiscal third quarter ending in March jumped 25% to $3.44 billion, beating estimates, as ad revenues swelled 44% on SuperBowl LIV. The company announced numbers after the closing bell. Shares had ended? up more than 3% ahead of earnings and poppped another 3.6% after. Adjusted EPS of $0.93 also…

Despite ample headwinds from COVID-19, Nexstar Media Group is not curtailing its ambitions to mount a new prime-time challenger to cable news as the U.S. nears its consequential election season. The company said Wednesday that News Nation, its three-hour nightly news show, is going forward without any changes. It will…

Discovery, Inc.’s U.S. ad revenue dropped 20% in April as the COVID-19 panic took hold but May and June look sbetter. The highly international company’s board will be looking carefully at acquisition opportunities around the world. And CEO David Zaslav put the blame for subscriber erosion on linear TV squarely at the…

Sinclair Broadcast Group, the No. 2 U.S. owner of local TV stations and a force in regional sports networks, reported mixed first-quarter results and warned investors of some COVID-19 bumps to come. Total revenue in the quarter rose?123% to $1.61 billion, just shy of Wall Street analysts’ consensus estimate for $1.65…

Discovery, Inc.’s key financials held steady last quarter from the year earlier with advertising flat despite declines in linear subscribers for the first three months of the year. Revenue eased 1% to $2.68 billion – and was unchanged excluding foreign exchange. Net income dipped 2% to $377 from $384 million. EPS was…

Nexstar Media Group, the No. 1 owner of local TV stations in the U.S., topped Wall Street’s first-quarter forecasts as advertising momentum before the coronavirus carried the company to a 177% surge in net income. Total revenue in the quarter ending March 31 was $1.09 billion, edging consensus estimates for $1.07…