After exceeding revenue estimates and topping expectations for how much it could cut losses in its streaming unit (only $238 million in the red is a win right now), Wall Street analysts picked through Paramount Global’s Nov. 2 earnings report for how it’s faring in a battle to survive in a landscape with far larger media and tech giants.
The company, controlled by Shari Redstone and run by Bob Bakish, hit 63 million global streaming subscribers in the latest quarter (a gain of 2 million) and touted that total revenue hit $7.1 billion, up 10 percent year-over-year, with free cash flow at $377 million.
The company’s leadership also believes that 2022 marked the peak investment year for its streaming ambitions — powered by Paramount+ and Pluto TV — and that this year losses will be overall lower than last year, an encouraging sign. Partnerships with Delta and Walmart+ were touted by the company as far as expanding...
The company, controlled by Shari Redstone and run by Bob Bakish, hit 63 million global streaming subscribers in the latest quarter (a gain of 2 million) and touted that total revenue hit $7.1 billion, up 10 percent year-over-year, with free cash flow at $377 million.
The company’s leadership also believes that 2022 marked the peak investment year for its streaming ambitions — powered by Paramount+ and Pluto TV — and that this year losses will be overall lower than last year, an encouraging sign. Partnerships with Delta and Walmart+ were touted by the company as far as expanding...
- 11/3/2023
- by Erik Hayden
- The Hollywood Reporter - Movie News
Warner Bros. Discovery’s progress in making its streaming business profitable and reducing its debt after the mega-merger that created the Hollywood giant was in Wall Street’s focus on Thursday.
With the entertainment conglomerate’s second-quarter results in the book, including a streaming loss of just $3 million, and management commentary, including boosting its post-merger cost-savings target to more than $5 billion, analysts shared their latest takes on the stock, which has gained year-to-date, and its outlook.
Several experts reiterated their confidence in the company’s path and improvements, but at least one analyst swam against the stream, downgrading their stock rating. As of mid-day Thursday, the conglomerate’s shares were down 1.2 percent at $12.40.
Bank of America analyst Jessica Reif Ehrlich had a bullish reaction to the earnings update, maintaining her “buy” rating and $21 stock price target on Warner Bros. Discovery. “Wbd’s second-quarter performance reflects the heavy lifting management has undertaken over the last year,...
With the entertainment conglomerate’s second-quarter results in the book, including a streaming loss of just $3 million, and management commentary, including boosting its post-merger cost-savings target to more than $5 billion, analysts shared their latest takes on the stock, which has gained year-to-date, and its outlook.
Several experts reiterated their confidence in the company’s path and improvements, but at least one analyst swam against the stream, downgrading their stock rating. As of mid-day Thursday, the conglomerate’s shares were down 1.2 percent at $12.40.
Bank of America analyst Jessica Reif Ehrlich had a bullish reaction to the earnings update, maintaining her “buy” rating and $21 stock price target on Warner Bros. Discovery. “Wbd’s second-quarter performance reflects the heavy lifting management has undertaken over the last year,...
- 8/3/2023
- by Georg Szalai
- The Hollywood Reporter - Movie News
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Shares of Disney closed at 97.57 Monday, up six percent from the previous trading day, after the surprise announcement that Bob Iger would return to the company as CEO.
The share price reflects the largely positive sentiment on Wall Street to Iger, as investors look to the veteran executive to make a series of decisive actions to help turnaround the company, with a particular eye to Disney’s potential buyout of Comcast’s stake in Hulu. Analysts say this is likely the easiest early action Iger can take, as some caution that the returning CEO may face challenges in undoing several of the changes already enacted by former CEO Bob Chapek.
Monday’s close continues a rally that began in pre-market trade Monday morning, when shares shot up 9 percent. This comes after the stock had hit a 52-week low of 86.28 earlier this month.
Goldman Sachs analysts,...
Shares of Disney closed at 97.57 Monday, up six percent from the previous trading day, after the surprise announcement that Bob Iger would return to the company as CEO.
The share price reflects the largely positive sentiment on Wall Street to Iger, as investors look to the veteran executive to make a series of decisive actions to help turnaround the company, with a particular eye to Disney’s potential buyout of Comcast’s stake in Hulu. Analysts say this is likely the easiest early action Iger can take, as some caution that the returning CEO may face challenges in undoing several of the changes already enacted by former CEO Bob Chapek.
Monday’s close continues a rally that began in pre-market trade Monday morning, when shares shot up 9 percent. This comes after the stock had hit a 52-week low of 86.28 earlier this month.
Goldman Sachs analysts,...
- 11/21/2022
- by Caitlin Huston
- The Hollywood Reporter - Movie News
AT&T Wednesday reports its first full calendar year financials after officially tucking up Time Warner. It’s been a tumultuous 12 months with a refashioned WarnerMedia the object of some admiration and some angst on Wall Street. Analysts will be seeking clarity on spending by HBO Max, the new streaming service to launch this spring that’s been announcing rapid fire deals from costly rights to South Park and Friends, to a Gossip Girl reboot to spinoffs of Gremlins and Dune. It’s inked overall deals and set new shows with producers like J.J. Abrams and Greg Berlanti. Beyond HBO Max headlines, one Wall Street firm urges a closer look at TBS and TNT, saying prospects for the general entertainment networks are bad and getting worse. That’s crucial because Turner Cable Networks provides more than half of WarnerMedia’s revenue. “There is a very real risk that WarnerMedia’s...
- 1/28/2020
- by Jill Goldsmith
- Deadline Film + TV
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