Tonight, earnings season begins for the U.S. video game publishers with EA reporting after the close. ATVI and TTWO will hold simultaneous calls next Thursday afternoon. These are the eight biggest questions on our mind going into the company reports. 1) Will There Be a New Candy Crush in 2018? King has systematically revitalized its Candy Crush franchise…
As CNBC flashed on the screen: “Facebook stock tanking on earnings,” all we could think about was the joy spreading throughout the legacy media world – long live linear TV, bloated multichannel bundles, untargeted 30-second commercials and death to the Internet (Linear TV ad sales teams are probably incorporating the Facebook stock price chart into…
EBITDA of R$3.75bn missed our estimate by R$25 million and consensus by R$150 million on an ARPU miss. Wireless ARPU of R$28.10 was R$0.75 below our estimate on lower than expected Data ARPU.
AT&T beat our Wireless Cash EBITDA estimate on better than expected ARPU and lower than expected device upgrade rate, just like Verizon this morning. (Link) Entertainment Group revenue was in line, with slight margin upside. DTV sub decline accelerating. Broadband ARPU upside offsets.
The legacy media world has lived in a wholesale, B2B world – whether we are talking about working with movie theaters to offer films, utilizing a wide array of retail outlets such as Walmart and Amazon to sell DVDs or licensing broadcast and cable networks to MVPDs such as Comcast and DirecTV. Legacy media has…
Wireless beat on strong post-paid ARPU that rose $1 sequentially and low device upgrade rate. Wireless service revenue grew for the first time in the past 14 quarters. Post-paid churn ticked up for first time in 5 quarters. Phone churn also up resulting in net add miss.
For multiple years, we have watched on the sidelines as LYV stock has continued to climb despite our positive thesis about the value of experiences over material items. At times, we have been rightly concerned about existential threats like AMZN’s ticketing ambitions and other times have overthought valuation, perhaps a double standard relative to our view of…
We have remained on the sidelines since Spotify’s April 3rd direct listing, which has clearly been a mistake. SPOT opened at $165.90 and is now trading near its all-time high of $190. We have been fascinated by the Spotify story since we first met Daniel Ek in late 2007 (as we detailed in our pre-Investor…
EBITDA of R$1.57 billion missed our estimate, but was above consensus. Lower than expected revenue was partially offset by better than expected gross margins and lower G&A expenses.
Tower leasing revenue growth accelerated for the third consecutive quarter to 20.7% and vs our estimate of 18.0%. Average Rent increased by 8.1% y/y to MXN 21,197 vs our estimate of a 5.8% y/y increase to MXN 20,750. Adjusted EBITDA topped our estimate by $1.8 million (MXN 27.7 million).
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