Disney posted its fiscal first quarter earnings that crushed analysts’ expectations. The entertainment giant’s revenue also surpassed estimates. Adjusted earnings for the quarter came in at $1.06, vs 63 cents expected by analysts polled by Refinitiv. Revenue of $21.82 billion was well above expectations of $20.91 billion. Disney+ total subscriptions was 129.8 million as of quarter-end, also...
Netflix posted its fourth-quarter earnings, which surpassed analysts’ expectations. However, the streaming giant reported slowing subscriber growth. The company’s earnings came in at $1.33, compared to 82 cents expected by analysts polled by Refinitiv. Revenue of $7.71 billion was in line with analysts’ expectations. Global paid net subscriber additions was 8.28 million vs 8.19 million...
Streaming giant Netflix is set to raise its subscription prices in the U.S. and Canada. The subscription cost of the standard Netflix plan will rise to $15.49 from $13.99 in the U.S,. and C$16.49 from C$14.99 in Canada. The basic plan, will increase in the U.S. by $1 to $9.99 per month. The premium plan is increasing by $2 to $19.99 per month. According to Netflix, the higher prices will help...
Several Wall Street's analysts raised their share-price targets for Netflix after the streaming giant beat Wall Street's third-quarter earnings expectations. KeyBanc analyst Justin Patterson boosted his price target on Netflix to $690, citing the company's third quarter results saying it reflected "solid" performance from returning and new originals. Patterson kept his overweight rating on...
Manchester United PLC. reported fourth-quarter FY21 sales, that reflected a 15.3% growth year-on-year, to £94 million. Broadcasting revenue climbed +140.4%, while Commercial revenue fell -12.8%. Matchday revenue declined -58.2%. Adjusted EBITDA loss widened to -£10.5 million. Adjusted basic loss per share for the period narrowed to -20.67 pence, compared to -21.59 pence last year. The company...
Disney said that it will release its remaining films for 2021 exclusively in theaters for a minimum of 45 days, except for "Encanto" ( Encanto will stream on Disney+ after 30 days). The media/entertainment behemoth said that it would release five films for minimum 45-day exclusive theatrical runs, including filmmaker Ridley Scott's "The Last Duel" to be released on Oct. 15, animated film...
Disney owned- Marvel's "Shang-Chi and the Legend of the Ten Rings" generated $90 million at the box office to close the Labor Day weekend. The result exceeded an initial forecast of about $63 million by researcher Boxoffice Pro. “Shang-Chi" had the second-biggest opening weekend of the pandemic, behind only "Black Widow" with $80 million. "Shang Chi's" had a three day total of $75.5 million...
Shares of Dave & Buster's Entertainment were rising Friday, after a rating boost at Truist.
Analysts at Truist upgraded the entertainment stock to buy from hold.
According to analyst Jake Bartlett, while the company is still in recovery mode, it will be able to weather potential headwinds.Bartlett sees Dave & Buster's as “relatively well positioned” to manage cost pressures including labor, due to new operating efficiencies and previously announced hiring initiatives, due to its low costs as a percentage of total sales.
Earlier this year, the company’s shares got a price target hike to $53 from $46 a share from analysts at Truist, as first-quarter results and current trends reflected "rapid sales recovery" , according to the analysts.
Walt Disney posted third quarter earnings that surpassed analysts’ expectations, on the back of solid subscriber figure for Disney+ and consumer attendance amid reopenings for its parks and experiences category. The entertainment behemoth’s earnings came in at 80 cents per share, handily beating the 55 cents expected in a Refinitiv survey of analysts. Revenue rose +44% from the year-ago...
Streaming giant Netflix announced on Thursday an expanded partnership with producer Shonda Rhimes.The expanded partnership is expected to give Netflix and Shondaland Media the opportunity to exclusively produce, stream and distribute feature films as well potential gaming and virtual reality content.
The deal includes three more seasons of “Bridgerton” and a new series, “Inventing Anna,” which Rhimes and producing partner Betsy Beers will produce
Netflix and Amblin Partners, the film and television studio led by Steven Spielberg, are partnering up for Amblin to produce multiple films a year for the streaming company.
"Steven is a creative visionary and leader and, like so many others around the world, my growing up was shaped by his memorable characters and stories that have been enduring, inspiring and awakening," said Ted Sarandos, Netflix Co-CEO and chief content officer, in a statement.
Meanwhile, Spielberg will continue to direct movies for Comcast's Universal Pictures as part of a separate agreement.
Earlier this month, Netflix launched its online shop Netflix.shop, which will sell curated products such as toys and apparel.
Video streaming giant Netflix announced that it launched Netflix.shop, which will sell curated products. Netflix.shop will offer apparel, toys and games etc. featuring to the streaming giant's programs. Items to be sold this month include action figures and apparel inspired by the anime series "Yasuke and Eden," and decorative items based on "Lupin". Netflix.shop will first be launched in the...
AMC Entertainment stock’s market value surpassed $10 billion for the first time.
The world’s largest movie theatre chain’s stock has more than doubled since the company reported its quarterly results on May 6.The offering generated $428 million of new capital, before commissions and fees, at an average price of $9.94 a share.
AMC has raised more than $1 billion to avoid bankruptcy in recent months.
Ehrlich also hiked share-price target to $53 from $38.
Ehrlich cited Viacom’s “scarcity value in an industry facing consolidation.” She indicated that various recent press reports have suggested Viacom as a potential target “with several assets that could command a premium."
The analyst emphasized that Viacom’s variegated content consisting of 140,000-plus TV episodes and 3,600-plus films across sports, movies, comedy, news, children, etc.
Shares of The Walt Disney Company fell on Thursday, following mixed results for the quarter ended April 3.
The entertainment giant’s fiscal second quarter earnings increased +32% year-over-year to 79 cents per share, compared to analysts’ expectations of 27 cents per share.
Revenue of $15.61 billion, however, came in below the $15.87 billion expected in the Refinitiv survey of analysts.
Paid subscribers of Disney+ was 103.6 million compared to 109 million expected by analysts polled by FactSet.
Average monthly revenue per user fell -29% year over year to $3.99, which the company attributed to Disney+ Hotstar.The service has lower average monthly revenue per paid subscriber than traditional Disney+ in other markets, pulling down the overall average.
Movie theatre chain AMC Entertainment announced it has completed the offering of 43 million shares it launched on April 29.
The offering amounts to $428 million of new equity capital, before commissions and fees, at an average price of $9.94 a share.
The capital “will immediately buttress and fortify our liquidity profile,” CEO Adam Aron said, and “puts AMC in a stronger position to tackle the challenges and capitalize on the opportunities that lie ahead.”
AMC stock also has achieved interest among Reddit readers.About 133,000 Reddit interactions with the word “AMC" happened over the past week, according to Facebook’s CrowdTangle data tool, Bloomberg reported.
Roku posted first-quarter earnings, even as analysts expected a loss.
The streaming company’s first quarter profit came in at 54 cents per share, compared to the loss of -13 cents per share that analysts were expecting.
Revenue surged +79% year-over-year to $574.2 million, vs. $491.6 million expected by analysts.
The company said it added 2.4 million active accounts in the quarter to touch 53.6 million, compared to 54.2 million expected by analysts polled by FactSet.
For the second quarter, Roku projects total net revenue of $615 million vs. analyst expectations of $550 million, according to FactSet.
"We are pleased with our start to 2021 and believe the broad secular trends combined with the investments we are making will drive long term growth.Different rates of recovery worldwide from COVID-19, combined with persistent supply chain constraints, make it difficult to predict an economic return to normalcy," said CEO Anthony Wood.
FactSet consensus was $2.77 billion.
According to the company, it now has 15 million total paying direct-to-consumer subscribers across its platform, including more than 13 million for its Discovery+ streaming platform.
"The global rollout of discovery+ is off to a fantastic start by any measure.Key metrics, including subscriber additions, customer engagement, and retention, are exceeding our expectations and demonstrating sustained momentum into the second quarter," Chief Executive David Zaslav said in a statement.
Netflix shares plunged -11% after-hours, following a major miss of subscriber numbers in its first-quarter earnings report.
The video streaming giant’s global paid net subscriber additions were 3.98 million in the quarter, compared to 6.2 million expected by analysts polled by Factset.The company also said it only expects to add about 1 million subscribers in the current quarter.
Earnings per share of $3.75 per share, however, beat expectations of $2.97 (according to Refinitiv survey of analysts).
Revenue came in at $7.16 billion, vs $7.13 billion expected by analysts polled by Refinitiv.
Media company News Corp. is reportedly nearing an agreement to acquire the consumer division of educational publisher Houghton Mifflin Harcourt Co. A Wall Street Journal report ,citing people familiar with the matter, mentioned that the deal could be announced as early as Monday. The agreement would add a portfolio of novels from authors such as George Orwell, Philip Roth and J.R.R. Tolkien...