Earnings
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Cinemark Q2 Profits Drop 62% to $45.8 Million, but ‘Inside Out 2’ Helps Avoid a Loss
The Texas-based multinational chain weathered a poor box office in April and May
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Business
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Apple Reports Record Q3 Revenue of $85.8 Billion, With AI Expansion on the Horizon
The tech giant’s Services net sales, which includes Apple TV+ and Apple Music, rose 14% year-over-year to $24.2 billion
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Business
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Roku Slashes Q2 Net Loss 68% to $34 Million
Shares rose over 6% in after-hours trading as the company posted a smaller than expected loss of 24 cents per share and better than expected revenue of $968 million
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Meta’s Push Into AI Development Shows Promise With 73% Surge in Net Income
The tech giant beat Q2 estimates, reporting revenue of $39.1 billion, up 22% from 2023
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AI
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Imax Revenue Slides 9% Year-Over-Year to $89 Million Amid Q2 Box Office Slump
But the premium format company’s stock popped on another Wall Street estimates beat
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YouTube Ad Revenue Rises 13% to $8.66 Billion in Q2
Google subscriptions, platforms and devices revenue, which includes YouTube TV, Music, Premium and NFL Sunday Ticket, grew 14%
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News
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Peacock Sheds 500,000 Subscribers, Comcast Earnings Dragged Down by Revenue Drop at Studios and Parks
The streamer has 33 million subscribers as it heads into the Olympics starting on Friday
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Spotify Sees Record Profit in Q2 Following Subscription Price Hike and Layoffs
The audio streaming giant reported revenue of €3.81 billion, up 20% year-over-year
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News
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Netflix Q2 Profits Surge 44% to $2.15 Billion As Streamer Adds 8 Million Subscribers
The company, which boosted its global subscribers 16.5% to 277.65 million, is expanding its lead over its competitors.
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Business
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Disney’s EMEA Business Posts $731 Million Profit for 2023, Driven by Disney+ and Strong Film Performance
Turnover, which includes licensing, advertising and subscription revenue, was $4.86 billion for the period covering Oct. 2, 2022, to Sept. 30, 2023
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Lionsgate Slashes Fiscal Q4 Loss to $39.5 Million on Boost in TV Production in First Post-Spinoff Earnings
The media company spun off its TV and film studios from Starz as a separately traded entity earlier this month
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Sony Pictures Nearly Doubles Q4 Income to $196 Million Driven by More Theatrical Releases
Sales rose 13% to $2.6 billion in the quarter but fell 10% for fiscal year 2023 due to strikes and lower licensing revenue
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AMC Networks Stock Falls Over 10% on Q1 Earnings Miss, Ad Revenue Drop
The company cited a “challenging ad market” for the decline despite the success of “The Walking Dead: The Ones Who Live”
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Nexstar Expects to Trim Losses at The CW By $100 Million ‘For the Year’
The company reported a $50 million improvement during its first quarter of 2024
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TV
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Max, Disney+ and Hulu Bundle Allows Streamers to Get Back Into Their ‘Lanes’ During Contraction, WBD Streaming Exec Says
“The business will look very different in two to three years and will be much better for the consumer,” David Zaslav says
