Disney is poised to be the top entertainment industry beneficiary of a potential improvement in U.S.-China relations, according to a veteran Wall Street analyst.
01.11.2023 - 21:05 / deadline.com
Shares in Roku surged almost 10% in after-hours trading after the company affirmed its outlook for “positive full-year EBITDA,” meaning a return to profitability.
The streaming giant posted third-quarter results below Wall Street analysts’ expectations, with revenue of $786.8 million and an adjusted loss of $2.33 per share.
While the quarterly results were less-than-stellar, the company said it saw an uptick of 2.3 million active accounts since last quarter, to a total of 75.8 million. The number of total hours streamed across Roku devices in the trailing 12 months also topped 100 billion for the first time.
While it remains a dominant gatekeeper for streaming, with an interface built into one-third of smart TVs in North America and tens of millions of connected devices, Roku encountered turbulence earlier this year. In September, the company said it would lay off 10% of its workforce and conduct a “strategic review” of its content portfolio.
In its quarterly letter to shareholders, the company said its 20% year-over-year increase in revenue, “in addition to cost reductions and measures we announced in September to further reduce our YoY OpEx growth rate, enabled us to deliver positive adjusted EBITDA.”
EBITDA, or earnings before interest, taxes, depreciation and amortization, is a common metric in the media business, designed to give an accurate sense of profits given the variability of expenses.
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Disney is poised to be the top entertainment industry beneficiary of a potential improvement in U.S.-China relations, according to a veteran Wall Street analyst.
The Cleveland Browns are at a crossroads. They have lost starting quarterback Deshaun Watson for the remainder of the season, and now they have to weigh their options. In the wake of their QB1 going down with a shoulder injury that requires surgery, Cleveland has decided that their rookie QB Dorian Thompson-Robinson will get the start for week 11.
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Disney opened a new corporate era with a mixed-to-positive batch of quarterly results, reporting better-than-expected revenue and earnings but also more than $1 billion in charges.
Investors bid down shares of Warner Bros. Discovery today as its chief financial officer described a U.S. ad market “that has continued to be weaker than we had hoped” and a recovery that’s hard to predict “with any conviction.”
Cynthia Littleton Business Editor In the quarter that included the marriage of UFC and WWE under the TKO Group umbrella, Endeavor saw its Q3 revenue rise despite headwinds from Hollywood strikes and other market conditions, but operating expenses climbed even more. Endeavor’s conference call with analysts today is expected to give Wall Streeters a chance to grill company executives, including CEO Ari Emanuel and Mark Shapiro, president and chief operating officer, on the news earlier this month that Endeavor is considering “strategic alternatives” for some of its businesses.
Jennifer Maas TV Business Writer Esports company GameSquare, which recently acquired FaZe Clan, will report its third-quarter earnings Nov. 15 after the bell. In a move to connect its target Gen Z demographic with Wall Stret, in lieu of hosting the traditional conference call with investors after the results have been released, GameSquare will be livestreaming the Q&A with CEO Justin Kenna and chief innovation officer Tyler “Ninja” Blevins on Twitch.
Endeavor posted a mixed bag of third-quarter results, with its Representation division showing negative impact from the WGA and SAG-AFTRA strikes.
Paramount Global shares fell nearly 9% midway through the trading day after veteran media analyst Jessica Reif Ehrlich delivered a harsh verdict on the stock.
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Jem Aswad Executive Editor, Music Four hours and 22 minutes is a long time to be doing anything except sleeping, even watching a state-of-the-art Rock and Roll Hall of Fame awards show that included Willie Nelson, Elton John, Sheryl Crow, Jimmy Page, Stevie Nicks and many more. Yet it’s a testament to the almost superhuman talent and vision of Missy Elliott that as the show hit the four-hour mark, she had the entire audience out of their seats for a visually and musically explosive medley of her greatest hits — including “Get Ur Freak On,” “The Rain” and the closer, “Lose Control” — as she rocked the stage in an all-gold glitter suit accompanied by rappers, a DJ, approximately 30 lithely limbed dancers and an eye-popping video presentation that spanned the entire width of the Barclays Center floor.
Todd Spangler NY Digital Editor Apple‘s services segment continues to record healthy gains, increasing 16.3% for the September quarter to reach a record $22.3 billion, while it also reported a 2.8% lift in iPhone sales. Overall, Apple posted revenue of $89.50 billion (down 1%) and net income of $22.96 billion (up 11%), translating to earnings per share of $1.46, for the quarter ended Sept. 30.
UPDATED with Lachlan Murdoch comments. Fox Corp. CEO Lachlan Murdoch said his father, Rupert, “is very much involved and will be for years to come” despite stepping down from his chairman role in September.
Coronation Street fans have been left fearing for Aadi Alahan - but not because he's been left heartbroken by Courtney Vance. During the latest visit to Weatherfield on Wednesday night (November 1), viewers of the ITV soap seemingly saw the end of their relationship - but the news didn't come from Courtney herself.
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Britannia has ranked the UK’s worst hotel chain for the 11th year in a row. Consumer group Which? has named the best and worst hotel chains of 2023 based on a survey of more than 5,000 people.