Topic: quarterly earnings
The announcement of a $25 million stock buyback plan helped send shares of cable operator WideOpenWest up more than 28% on Friday.
The “cable flu,” as one analyst calls the industry’s steep downward trajectory on Wall Street, got worse after the latest quarterly earnings reports.
21st Century Fox’s fiscal third-quarter revenues fell slightly to $7.42 billion, down 2% from $7.56 billion last year when the network aired Super Bowl LI.
Altice USA reported narrow revenue growth of 1.2% to $2.33 billion in the first quarter, with a testy program licensing dispute, as well as several debilitating storms, taking a toll on residential sales during the period.
Cable One reported a 28.1% surge in first quarter revenue to $265.8 million thanks partly to its brisk business services growth.
Dish Network reported a 5.9% decline in first-quarter revenue to $3.46 billion, with subscriber losses coming in at 94,000.
Will Altice USA’s first-quarter earnings report provide relief for the “cable flu” that has overtaken Wall Street? No, says analyst Craig Moffett.
Mediacom saw first-quarter revenue rise 3.4% to $478.4 million, driven by the usual combination of residential high-speed internet and business services.
Despite continuing struggles among its pay TV operator clients, Arris saw first-quarter revenue increase by 6% to $1.58 billion, beating analyst forecasts.
Analysts were quick to tell a reactionary Wall Street that cord cutting didn’t actually accelerate in the first quarter, remaining at 3.4%.