Cable TV

Q3-2015: Cable Networks & Broadcasting revenues pull down CBS Corp revenue 3.3%

Published

10 years ago

November 4, 2015

BENGALURU: CBS Corporation (CBS) reported a 3.3 per cent decline in revenue to $3,257 million in the quarter ended 30 September, 2015 (Q3-2015, current quarter) as compared to the $3,367 million reported for the corresponding year ago quarter. Revenue pulled down because of decline in revenue of two of its four segments – Cable Networks; and Broadcasting, which saw declines of 15.6 per cent and 6.2 per cent respectively in Q3-2015 as compared to Q3-2104.

CBS’s other segments-Entertainment and Publishing saw revenue growths of 1.1 per cent and two per cent respectively, but not enough to prevent the YoY slide in revenue.

From the type perspective, CBS’s Advertising revenue and Content Licensing & Distribution revenues declined by 4.3 per cent and 8.3 per cent respectively, while Affiliate and Subscription fee revenue increased 9.2 per cent.

CBS Total Operating Income for Q3-2015 increased 12.7 per cent to $753 million in the current quarter as compared to $668 million in the corresponding year ago quarter.

“Thanks to the strength of our great content, CBS continues to have a winning hand,” said CBS executive chairman Sumner Redstone. “Les and his team are capitalising on all of the opportunities before us, and I’m confident they are setting the company up for continued, long-term growth.”

“During the third quarter, we once again grew our profit and EPS while continuing to increase our investment in content and new distribution services,” said CBS president and CEO Leslie Moonves. “I’m particularly pleased with the gains we’re seeing in network advertising, including underlying ad growth in the third quarter and even better pricing here in the fourth. Plus, having sold less inventory in the upfront, we stand to benefit throughout this television season as we sell our #1 network in a very robust scatter marketplace. Add to that CBS’s broadcast of Super Bowl 50 in February and the upcoming presidential election, you can see why we feel very good about advertising in 2016. At the same time, our non-advertising revenue continues to grow even faster, led by retransmission consent and reverse compensation, which were up 50 per cent in the third quarter and are well on their way to exceeding $1 billion next year. Looking ahead, as viewers increasingly want to access and pay for content in new ways, we see continued increases in subscription revenue from our in-house over-the-top services at CBS and Showtime, as well as those from outside distribution partners. The good news is, no matter how quickly the industry changes — from big bundles to ‘skinny’ ones to a la carte — CBS is positioned to succeed.”

CBS says that lower YoY revenues in Q3-2015 primarily reflect the timing of television licensing sales and decreases in lower-margin revenues, including the non-renewal of a sports contract and lower pay-per-view revenues. Revenues for Q3-2015 benefited from growth in underlying network advertising, as well as 9 per cent higher affiliate and subscription fees, including a 50 per cent increase in revenues from retransmission consent and CBS Television Network-affiliated television stations.

The company says that YoY increase in operating income in the current quarter reflects growth in high-margin affiliate and subscription fee revenues, which were offset by lower profits from television licensing.

Segment numbers

Entertainment (CBS Television Network, CBS Television Studios, CBS Global Distribution Group, CBS

Interactive, and CBS Films)

Entertainment revenues in Q3-2015 rose to $1.93 billion as compared with $1.91 billion for the same prior-year period, primarily reflecting a 55 per cent increase in affiliate and subscription fees. Network advertising revenues were up one per cent despite the broadcast of fewer sporting events on the CBS Television Network. Content licensing and distribution revenues decreased three per cent, primarily reflecting the timing of television licensing sales.

Entertainment operating income for Q3-2015 of 2015 was $339 million, up 12 per cent YoY from $302 million, driven by growth in higher margin revenues, which were partially offset by an increased investment in programming and digital distribution initiatives says CBS.

Cable Networks (Showtime Networks, CBS Sports Network, and Smithsonian Networks)

Cable Networks revenues for the current quarter were $526 million compared with $624 million for Q3-2014, which included significant domestic streaming sales of Dexter and Californication and higher revenues from pay-per-view boxing events. An increase in affiliate and subscription fees, reflecting growth in rates and revenues from new digital distribution platforms, partially offset the decline.

Cable Networks operating income for Q3-2015 was $246 million compared with $266 million Q3-2014, primarily reflecting the lower revenues. The decline was partially offset by lower programming costs that were mainly associated with pay-per-view boxing events.

Publishing (Simon & Schuster)

Publishing revenue for Q3-2015 was $203 million compared to $199 million for Q3-2014. Digital revenues represented 25 per cent of Publishing’s total revenues for Q3-2015. Bestselling titles included The Survivorby Vince Flynn and Kyle Mills and Plunder and Deceit by Mark R. Levin, as well as the continued success of the Pulitzer Prize-winning 2014 release, All the Light We Cannot See by Anthony Doerr.

Publishing operating income of $43 million for Q3- 2015 increased two per cent from $42 million in the

Q3-2014, primarily reflecting the revenue increases.

Local Broadcasting (CBS Television Stations and CBS Radio)

Local Broadcasting revenue was $638 million for Q3-2015 as compared to $680 million in Q3-2014. CBS Television Stations YoY revenues declined as a result of the benefit to 2014 from the midterm elections and the broadcast of fewer sporting events on CBS in 2015. Growth in affiliate fees partially offset the decline. CBS Radio revenues decreased six per cent, reflecting several non-comparable items, including fewer stations and lower political revenues, as well as continued softness in the radio advertising marketplace.

Local Broadcasting operating income for Q3-2015 was down 9 per cent to $174 million from $192 million in Q3-2014, primarily because of the revenue decline, which was partially offset by the recent cost-cutting measures CBS put in place.

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Cable TV

Den Networks Q3 profit steady despite revenue pressure

Published

1 month ago

January 19, 2026

indiantelevision.com Team

MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.

Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.

Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.

The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.

In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.

Cable TV

Plugging along as Hathway tunes in steady profits this quarter

Published

1 month ago

January 17, 2026

indiantelevision.com Team

MUMBAI: In a quarter where staying connected mattered more than moving fast, Hathway Cable and Datacom kept its signal steady. The cable and broadband major reported a net profit of Rs 21.7 crore for the December 2025 quarter, marking a clear improvement from Rs 13.6 crore a year earlier, even as pressures persisted in parts of its operating portfolio.

For the quarter ended December 31, 2025, revenue from operations stood largely flat at Rs 536.6 crore, compared with Rs 511.2 crore in the same period last year. Including other income of Rs 21.1 crore, total income rose to Rs 557.7 crore, reflecting incremental gains despite a competitive media and connectivity landscape.

Profitability improved on the back of disciplined cost control and higher contribution from associates. Profit before tax increased to Rs 28.2 crore, up from Rs 19.1 crore in Q3 FY25, aided by Rs 3.9 crore in share of profit from associates and joint ventures. After tax, earnings for the quarter climbed nearly 60 per cent year-on-year.

Over the nine months ended December 31, 2025, Hathway reported a net profit of Rs 71 crore, compared with Rs 57.7 crore in the corresponding period last year. Total income for the nine months came in at Rs 1,677.3 crore, up from Rs 1,599.8 crore, while profit before tax rose to Rs 94.7 crore from Rs 84.2 crore.

A closer look at the segments shows a familiar split story. The cable television business remained under pressure, reporting a segment loss of Rs 11.4 crore for the quarter, though this narrowed sharply from the Rs 16.6 crore loss seen a year ago. In contrast, the broadband business returned to the black, delivering a modest but positive contribution of Rs 4.2 crore, helped by associate income. Dealing in securities continued to be a bright spot, generating Rs 14.7 crore in quarterly profits.

Costs stayed broadly contained. Pay channel costs, the single largest expense, rose to Rs 287.4 crore, while depreciation and amortisation stood at Rs 74 crore. Finance costs remained negligible at Rs 0.2 crore, keeping leverage risks in check.

Hathway’s earnings per share for the quarter improved to Rs 0.12, up from Rs 0.08 a year ago. The company maintained a strong balance sheet, with total assets of Rs 5,302.4 crore and total liabilities of Rs 848.9 crore as of December 31, 2025.

While structural challenges persist in the traditional cable business, the numbers suggest Hathway is slowly recalibrating its mix trimming losses where needed, leaning on associate income, and keeping the broadband engine ticking. For now, the company may not be racing ahead, but it is clearly staying tuned in to profitability.

Cable TV

Signal drop Tejas Networks’ numbers stay patchy in a volatile quarter

Published

2 months ago

January 10, 2026

indiantelevision.com Team

MUMBAI: In telecom, even the strongest signals face interference and Tejas Networks Limited’s latest numbers show just how noisy the airwaves remain. The Tata Group-backed networking firm reported unaudited standalone revenue of Rs 305.72 crore for the quarter ended December 31, 2025, up sequentially from Rs 261.37 crore in the September quarter, but sharply lower compared with the Rs 2,642.05 crore clocked in the year-ago period. The topline recovery, however, was overshadowed by a pre-tax loss of Rs 303.20 crore, widening from a Rs 473.03 crore loss in the previous quarter, and reversing a Rs 211.06 crore profit reported in the December 2024 quarter.

After tax, the company posted a loss of Rs 196.89 crore for Q3 FY26, compared with a loss of Rs 307.17 crore in Q2 FY26 and a profit of Rs 165.42 crore a year earlier. For the nine months ended December 31, 2025, Tejas Networks reported revenue of Rs 769.02 crore and a loss after tax of Rs 697.97 crore, a sharp swing from a Rs 512.67 crore profit in the corresponding nine-month period last year. The numbers reflect a year marked by execution challenges rather than demand collapse.

Costs remained the dominant spoiler. Total expenses for the December quarter stood at Rs 616.50 crore, driven by elevated material costs, employee expenses and provisioning. The company also flagged several one-offs and adjustments: a Rs 9.85 crore provision linked to the implementation of new labour codes, ₹24.35 crore in warranty provisions, and reversals related to inventory obsolescence. Earlier quarters had already absorbed heavy charges tied to contract manufacturing losses, design changes and write-downs, the hangover from which continues to weigh on profitability.

Tejas reiterated that it operates as a single reportable segment focused on telecom and data networking products and services, offering little insulation from sector-wide volatility. While revenue momentum has stabilised sequentially, the contrast with the previous financial year remains stark. For context, the company closed FY25 with audited standalone revenue of Rs 8,915.73 crore and a profit after tax of Rs 450.66 crore, underscoring how sharply the operating environment has shifted in FY26.

The results were reviewed by the audit committee and approved by the board on January 9, 2026, but they leave investors with a familiar question: when does recovery turn structural rather than episodic? For now, Tejas Networks appears to be in reset mode, balancing execution clean-up with cost discipline. In a sector where margins can be as fragile as fibre strands, the next few quarters will matter as much as the signals the company sends to the market.