ITV

Tag: Q2 result

  • NDTV Convergence records best-ever Q2

    NDTV Convergence records best-ever Q2

    MUMBAI: The NDTV Group and NDTV Ltd, the broadcasting operations under the group, both have declared profit in the second quarter of this financial year. From the same quarter of last year, the companies have made a big turnaround. NDTV's broadcast operations have declared a profit of Rs 19 lakh.

    In the second quarter, the EBITDA or operating profit stood at Rs 6.32 crore as compared to a loss of Rs 9.12 crore for the same time last year. On the other hand, operating costs for the broadcast operations have reduced by Rs 26.27 crore year-on-year. Since the Q1 of this FY, the same has reduced by nearly Rs 7.4 crore.

    EBITDA at the group level stood at Rs 11.70 crore, a turnaround of Rs 21.49 crore y-o-y as EBITDA losses for the same quarter last year were Rs 9.79 crores.

    Notably, the company's digital arm NDTV Convergence recorded its best-ever Q2 with the highest revenue for this period. While the traffic has grown by 45 percent over the same period last year, ndtv.com is India's biggest news website according to SimilarWeb data.

  • Amazon posts stronger-than-expected Q2 result

    MUMBAI: E-commerce giant Amazon posted much-stronger-than-expected second quarter earnings. Owing to growth in prime subscriptions, cloud computing and nascent advertising business, the company topped $2 billion in quarterly profit for the first time in its history. Analysts predict those two factors will continue to push the company forward in coming quarters.

    Net income increased to $2.5 billion in the second quarter while last year in the same quarter the growth was $197 million. Net sales increased 39 per cent to $52.9 billion in the second quarter, compared with $38.0 billion in second quarter 2017. However, the sales growth was slightly below Wall Street’s estimates.

    “A big contributor to the quarter and the last few quarters obviously has been strong growth in our highest profitability businesses and also advertising,” CFO Brian Olsavsky said. “We’ve seen a greater-than-expected efficiency in a lot of our spend in things like warehouses, data centres, marketing.”

    This was the third consecutive quarter that Amazon has topped $1 billion in profit. Amazon’s cloud computing business, Amazon Web Services division, jumped to more than $6 billion in sales for the quarter. “Amazon Web Services is basically the silver bullet for them for future growth,” Synovus Trust senior portfolio manager Dan Morgan said as quoted by CNN.

    “I would say that, in addition to the operating efficiencies, advertising is also starting to make an impact on gross profit, although advertising is smaller in the international segment than it’s in North America, it’s growing at a same rapid clip year-over-year,” Olasavsky said in an earnings call.

    “We continue to invest. We’re investing in India obviously, and have seen good traction there. We just passed our Fifth Year Anniversary – celebrated our Fifth Year Anniversary, as the most visited site in India. So we think there’s a lot of great innovation that has continued to occur for Indian consumers and sellers, and that will continue,” he commented on Indian market.

    Amazon is on an upward journey this year. Earlier this month, its market value topped $900 billion for the first time. Following the result, the stock jumped 3 per cent in afterhours trading.

  • Mark Zuckerberg, Facebook boss, loses $16.8 bn in just 2 hours

    Mark Zuckerberg, Facebook boss, loses $16.8 bn in just 2 hours

    MUMBAI: After a trembling quarter which was full of controversies regarding data security, Facebook faced the hit on stocks too. Following the Cambridge Analytica scandal, the social media giant lost the faith of users and faced backlash from policymakers. Now, after a poor Q2 result with a weaker-than-expected revenue growth, the company lost about $130 billion in market value in just two hours. CEO Mark Zuckerberg, the third richest man according to the Bloomberg Billionaires Index, lost $16.8 billion in extended trading.

    If Zuckerberg’s loss holds through Thursday, he will slide to sixth place in the Bloomberg Billionaires Index.

    In Q2, Facebook could not reach the Wall Street-projections for growth in revenue as well as daily users. Moreover, the company also told the numbers won’t get better this year. The stock slide started right after Facebook posted the result which was later triggered by chief financial officer David Wehner’s comment on slow growth throughout the year. Shares plunged as much as 24 per cent afterwards.

    Facebook had 1.47 billion daily active users in June, compared with the 1.48 billion average of analysts’ estimation. In Europe, the implementation of strict new data regulations led to 1 per cent decline in daily visitors. Even in its biggest markets, the US and Canada, the user base did not grow. The company added 22 million daily active users, lower than the 41 million it added in the same quarter a year earlier. While analysts projected $13.3 billion, the revenue increased 42 per cent to $13.2 billion in the quarter.

    “I think many investors are having a hard time reconciling that deceleration,” an analyst at Jefferies LLC Brent Thill told Facebook executives. “It just seems like the magnitude is beyond anything we’ve seen, especially across a number of the tech (companies) we cover,” he added. However, some analysts think the harsh truth is that the platform can’t grow forever. “The core Facebook platform is declining,” an analyst at Pivotal Research Group Brian Wieser said.

    Facebook will increase spending to make investments in video content, artificial intelligence, and virtual reality. The company is growing its video play with new sports broadcasting rights and content deal for news. However amid all new plans also, it could not live up to expectation. Since 2015 Q1, this is the first time it could not meet revenue growth.

  • Netflix shares sink after it misses Q2 subscriber growth expectations

    Netflix shares sink after it misses Q2 subscriber growth expectations

    MUMBAI: Making some analysts’ prediction true, Netflix could not live up to its second-quarter earnings expectations. The streaming video giant added 5.15 million subscribers worldwide compared to the expectation of 6.2 million new subscribers. Following the result, the company’s stock fell down 14 per cent.

    In the domestic market of the US, the company added 670,000 subscribers while in international market it signed up 4.47 million subscribers. For domestic market Wall Street analysts expected 1.23 million net adds and 5.11 million overseas for the period. Now, the fear has risen that the company’s rapid growth is slowing down. Despite missing the expectation in terms of subscriber growth, it beat earnings expectations of $0.79 per share by reporting $0.85 EPS for the quarter.

    “Investors are devastated by Netflix’s Q2 projection that went down in dramatic flames. Now future projections are suspect and that decimates valuation,” private equity firm Patriarch’s CEO Eric Schiffer said as quoted by Reuters.

    “We had a strong but not stellar Q2,” Netflix said in a quarterly letter to shareholders. “This Q2, we over-forecasted global net additions… as acquisition growth was slightly lower than we projected,” the company added. Netflix CEO Reed Hastings said median viewing hours was growing but without sharing any specifics.

    Though Netflix is leading the market globally, competitors including Amazon, Hulu, and Apple are also gaining foothold in the market making things tougher for the company. The deal between AT&T and Times Warner is also an indication of increased competition for the platform. Even in India, from where Netflix targets to add a huge number of subscribers, its international rival Amazon and players like Hotstar, Voot, ALTBalaji have strong foothold in the market.

    “We’ve seen this movie of Q2 [subscriber net adds] shortfall before, about two years ago in 2016 — and we never did find the explanation to that, other than there’s some lumpiness in the business,” Netflix CEO Reed Hastings said adding that the company continued to perform after that also.