Comcast Beat the Street by 1¢ ... Pricing Pressures?
• Analyze This: Comcast’s Q2 beat the Street by a penny reporting 33¢/share (same as ’09) with revenues of $9.5B (+6.1%) citing “solid customer growth” and a loosening ad market. --- Despite some good news as Sprint reported Q2, Bernstein’s Craig Moffet keeps them at ‘underperform’ citing the difficulty of turning around a US wireless company. --- Dreamworks reported Q2 eps of 27¢/share and Macquarie’s Andrew Kim likes it with ‘outperform’ and a $38/share targt. --- Broadcom reported record 2Q revenue of $1.6B, up 9.7% over Q1 and 54% y/y. --- IAC reported 2Q operating income up 93% with revenues up 18% ... eps of 24¢ v. y/y of 2¢. Urbanspoon’s RezBook launched to compete with Open Table. --- Standard & Poors says its putting AT&T on credit watch (negative).
• Real Numbers: Don't miss this weeks MediaCensus Real Numbers quiz ... It's all about which MSOs and telcos are the best bets for independent programmers. You can find it here.
• Pricing: Pricing pressures are growing ... a two-pronged effect of higher wholesale programming prices coupled with a lingering and severe recession are threatening to alter the business model of MVPDs ... one take on that is the growth, albeit not (yet) rampant, of cord-cutting. SNL Kagan’s Sarah Barry James has an in-depth look here.
• Heads Up: Now you can register for Int’l CES (Vegas, 01/06-09/11) here. --- Multi-Channel Video Programming Distributor EEO Program Annual Reports are due to the FCC, Sept. 30.
• Spectrum: How much spectrum does the gov’t really want? And from whom? Reclaiming and reallocating is in the details ... interesting speculation from SNL Kagan’s Tim Doyle here.
• Folks: A little turmoil at (always rumored as ‘for sale’) ABC as Ent. prez Steve McPherson departs just as Fall’s programs are to debut for critics; ABC Family’s Paul Lee has replaced him and will manage ABC Entertainment and ABC Studios. --- NBC-U's Jeff Fleeher is now SVP and CFO of TV Nets & Digital Distribution; also promoted were Jennifer Chastain and Wendy Gross to Director, Field Sales & Marketing; Carly Greenberg and Fred Haug to Manager, Affiliate Marketing; and Emily Powers and Brad Trullinger to Director.
• Up in the Sky: And still “online” ... In-Stat predicts a $0.5B market for in-flight broadband by the end of this year. --- The DISH Network experienced an interruption at around 1 a.m. MDT on Tuesday due to some unplanned side effects associated with required upgrades on the EchoStar-14 satellite. For the company's statement, check tomorrow's SkyREPORT.
• Online: Can’t read this because you don’t have internet? Live in one of these 10 dial-up only counties (thanks to Business Insider)? At least old FCC data would make you think so. ---The WSJ says Google is talking to gaming companies with an eye to developing a Facebook competitor.
• Over There: Hong Kong’s Hutchinson has blended its landline voice and broadband with its mobile cellular and wi-fi brands under the 3ree label.
• Mobile: JSI Capital Advisors, publishers of Phone LInes 2010, project access landline sub losses to accelerate predicting 45 % of households will be “wireless only” by ’19 and cable telephony will grow to 27% of the residential voice market (info@jsicapital.com).•
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