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Comcast ( CMCSA ), reportedly in talks to buy DreamWorks Animation ( DWA ), early Wednesday posted Q1 earnings and revenue that topped views, as the cable TV firm added 53,000 video subscribers. Revenue at NBCUniversal’s film unit slipped from Q1 2015 due to a weaker slate of movies. Comcast is in talks to pay $3 billion , roughly $34 to $35 per share for DreamWorks, Bloomberg and others have reported . DreamWorks has been pursued in the past by Hasbro ( HAS ) and Japan’s SoftBank. DreamWorks owns AwesomenessTV, which provides content for young adults. Verizon Communications ( VZ ) in early April acquired a 24.5% stake in AwesomenessTV for $159 million. Both Comcast and Verizon have been pursuing original content for millennials, a demographic coveted by advertisers. Comcast said Q1 earnings, excluding items, rose 7% from the year-earlier quarter to 87 cents per share, while revenue increased 5.3% to $18.8 billion. Analyst had modeled EPS of 79 cents and revenue of 18.64 billion. Comcast’s video customer additions represent a swing from a loss of 8,000 in Q1 2015. It marked its most video subscriber additions in nine years. Comcast added 438,000 broadband subscribers, up from 407,000 in Q1 2015. Comcast said cable TV revenue climbed 6.7% to $12.2 billion, while NBCU revenue rose 3.9% to $6.86 billion. Filmed entertainment revenue fell 4.3% to $1.38 billion. In the year-earlier period, Universal Film released “Fifty Shades of Grey.” Comcast stock was up more than 1.5% in premarket trading Wednesday, following its earnings release. Scalper1 News
Scalper1 News