Sizing up pay TV earnings for the second quarter of 2014

How did pay-TV distributors including cable MSOs, IPTV operators and satellite providers, as well as relevant programmers and technology companies perform in 2014's second quarter? In this earnings summary, we list results for the biggest cable industry players.

To compare results in this industry segment, check out our earnings summaries from the first quarter of 2014 and the fourth quarter of 2013. Also, round out your telecom earnings knowledge with more summaries for the current quarter, updated at FierceTelecom and FierceWireless.

July 17
Google (NASDAQ: GOOG)
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A 25 percent uptick in paid clicks was partially offset by never-ending declines in CPM prices, but Google still managed to drive 6 percent growth in net income to $3.42 billion on revenue growth of 21.7 percent to $16 billion. At $6.08 a share, earnings were not the $6.25-a-share Wall Street was predicting. 
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July 21
Netflix (Nasdaq: NFLX)
Netflix's overall revenues surged around 25 percent year over year to $1.34 billion in the second quarter, and the company's profits more than doubled during that period, from $29 million to $71 million. The provider also saw its U.S. subscriber base grow by 570,000 to 36 million between the first and second quarters. Chairman and CEO Reed Hastings also emphasized the open nature of the Internet as a reason why Netflix will likely not charge ISPs for the "privilege" of delivering its content, the way that traditional pay-TV operators must pay programmers.
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- and details of their investor call
- read the earnings release (PDF)
- visit Netflix's investor relations page

July 22
Verizon (NYSE: VZ)
Despite the strong performance by Quantum TV, the overall growth of FiOS slowed in the second quarter. Verizon added 100,000 FiOS video subscribers in the quarter, down from 140,000 in the year-ago quarter.  Nevertheless, the firm ended the quarter with 5.4 million FiOS video customers, representing a year-over-year increase of 7.6 percent.  The company said its penetration rate at the end of the quarter was 35.3 percent for FiOS Video, up from 34.5 percent.
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- and the earnings release
- visit Verizon's investor relations page

Comcast (Nasdaq: CMCSA)
Overall, Comcast reported a consolidated revenue increase of 3.5 percent to $16.8 billion, narrowly meeting consensus investor forecasts of $16.9 billion, and consolidated operating cash flow growth of 7 percent to $5.8 billion, beating a consensus prediction of $5.7 billion.
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- and the earnings release
- visit Comcast's investor relations page

Apple (NASDAQ: AAPL)
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July 23
AT&T (NYSE: T)
Driven by the growth of its U-verse platform and subscriber gains in its wireless postpaid business, AT&T reported a 1.6 percent increase in second quarter consolidated revenue to $32.6 billion, and an 8 percent drop in operating income to $5.6 billion on a 4 percent uptick in operating expenses. The revenue performance missed investor consensus forecast by about $840 million, while a reported earnings per share of 62 cents narrowly missed the target by 1 cent.
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- and the earnings release
- visit AT&T's investor relations page

July 24
Amazon (NASDAQ: AMZN)
Sales of Amazon's Fire TV streaming device "significantly exceeded" the e-tail giant's sales forecast, the company said in its second-quarter earnings release. The news comes on a 23 percent jump in Amazon's net sales compared with the same quarter last year, from $15.7 billion to $19.34 billion. However, the company's operating and net losses remain a concern for investors.
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- visit Amazon's investor relations page

July 30
Ruckus Wireless (NYSE: RKUS)
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July 31
Time Warner Cable (NYSE: TWC)
In the second quarter, TWC reported revenue of $5.73 billion, up 3.2 percent year over year. The company's second quarter average monthly revenue per residential customer was up 1.7 percent to $106.98. Residential high-speed data ARPU was up 9.7 percent to $46.92. The operator also plans to speed up its deployment of Maxx, its all-digital DOCSIS 3.0-based high-speed data offering that delivers speeds of up to 300 Mbps.
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- and the earnings release (PDF)
- visit Time Warner Cable's investor relations page

Charter Communications (Nasdaq: CHTR)
The Stamford, Conn.-based cable company announced a narrowing second-quarter loss on a growing broadband subscriber base and reduced losses among TV video customers. Charter reported a drop of 29,000 video customers, a marked deceleration from the 55,000 video subs it lost in Q2 2013. Revenue from the company's video services rose 13 percent to $1.11 billion. The company also added 49,000 Internet customers in the quarter, up from 38,000 in the comparable year-ago time period; broadband services revenue increased 23 percent to $638 million in the second quarter.
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- and the earnings release (PDF)
- visit Charter Communications investor relations page

DirecTV (Nasdaq: DTV)
Partially driven by rabid World Cup TV consumption in its overseas point of strength, Latin America, DirecTV reported second-quarter earnings growth of 22 percent to $806 million, with revenue increasing 5 percent year-over-year to $8.1 billion and beating analysts' consensus forecast.
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- and the earnings release
- visit DirecTV's investor relations page

Discovery Communications (Nasdaq: DISCA)
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Arris (Nasdaq: ARRS)
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August 1
Bell Aliant (TSX: BA)
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August 5

Cablevision (NYSE: CVC)
Cablevision Systems reported second quarter revenue growth of 3.7 percent to $1.6 billion, and a 29.4 percent growth in consolidated operating income to $255.9 million, both beating the consensus projections of investors.
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- and the earnings press release
- visit Cablevision's investor relations page

Liberty Media (Nasdaq: LMCA)
Overall, Liberty Media increased its revenues to $1.16 billion in the second quarter of 2014, a $15 million improvement over the first quarter and in line with analyst estimates. The company's revenue boost was a bright spot amid mixed results for the media and entertainment company, which owns significant stakes in Charter and TWC.
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- and the earnings release (PDF)
- visit Liberty Media's investor relations page

Walt Disney Co. (NYSE: DIS)
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August 6
Centurylink (NYSE: CTL)
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Dish Network (Nasdaq: DISH)
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Time Warner Inc. (NYSE: TWX)
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Viacom (NYSE: VIA)
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August 7
AMC Networks (Nasdaq: AMCX)
- more AMC's investor relations page

CBS Corp. (NYSE: CBS)
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August 13
Cisco (Nasdaq: CSCO)
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August 26
TiVo (Nasdaq: TIVO)
Continuing to transform its business to one driven by MSO partnerships, TiVo added 283,000 pay-TV subscribers in the second quarter, a 20 percent improvement over the same period in 2013. The additions bring the DVR maker's pay-TV customer base to nearly 3.9 million users. Overall, TiVo touts 4.8 million customers, with MSO adds in Q2 more than offsetting the loss of 20,000 users of retail-purchased devices.
- see our coverage
- and the earnings release
- visit TiVo's investor relations page

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Sizing up pay TV earnings for the second quarter of 2014