Wrapping up Q3 earnings, we look at the numbers and key takeaways for the media stocks, including John Wiley & Sons (NYSE: WLY) and its peers.
The advent of the internet changed how shows, films, music, and overall information flow. As a result, many media companies now face secular headwinds as attention shifts online. Some have made concerted efforts to adapt by introducing digital subscriptions, podcasts, and streaming platforms. Time will tell if their strategies succeed and which companies will emerge as the long-term winners.
The 9 media stocks we track reported a mixed Q3. As a group, revenues were in line with analysts’ consensus estimates.
Luckily, media stocks have performed well with share prices up 14.7% on average since the latest earnings results.
John Wiley & Sons (NYSE: WLY)
Established in 1807, John Wiley & Sons (NYSE: WLY) is a global leader in academic publishing, providing educational materials, scholarly research, and professional development resources.
John Wiley & Sons reported revenues of $426.6 million, down 13.4% year on year. This print exceeded analysts’ expectations by 1.6%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ EPS estimates and a decent beat of analysts’ EBITDA estimates.
“Continuous improvement is a way of life for us now, and it’s beginning to pay off in our quality growth and margin expansion,” said Matthew Kissner, Wiley President and CEO.
John Wiley & Sons delivered the slowest revenue growth of the whole group. The stock is down 16.2% since reporting and currently trades at $41.44.
Is now the time to buy John Wiley & Sons? Access our full analysis of the earnings results here, it’s free.
Best Q3: fuboTV (NYSE: FUBO)
Originally launched as a soccer streaming platform, fuboTV (NYSE: FUBO) is a video streaming service specializing in live sports, news, and entertainment content.
fuboTV reported revenues of $386.2 million, up 20.3% year on year, outperforming analysts’ expectations by 2.7%. The business had a very strong quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
The market seems happy with the results as the stock is up 139% since reporting. It currently trades at $4.16.
Is now the time to buy fuboTV? Access our full analysis of the earnings results here, it’s free.
Weakest Q3: Endeavor (NYSE: EDR)
Owner of the UFC, WWE, and a client roster including Christian Bale, Endeavor (NYSE: EDR) is a diversified global entertainment, sports, and content company known for its talent representation and involvement in the entertainment industry.
Endeavor reported revenues of $2.03 billion, up 66.6% year on year, falling short of analysts’ expectations by 6.6%. It was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income estimates.
Endeavor delivered the fastest revenue growth but had the weakest performance against analyst estimates in the group. Interestingly, the stock is up 6.9% since the results and currently trades at $31.01.
Read our full analysis of Endeavor’s results here.
Disney (NYSE: DIS)
Founded by brothers Walt and Roy, Disney (NYSE: DIS) is a multinational entertainment conglomerate, renowned for its theme parks, movies, television networks, and merchandise.
Disney reported revenues of $22.57 billion, up 6.3% year on year. This number met analysts’ expectations. More broadly, it was a satisfactory quarter as it also produced a solid beat of analysts’ adjusted operating income estimates but a miss of analysts’ Entertainment revenue estimates.
The stock is up 10.8% since reporting and currently trades at $113.81.
Read our full, actionable report on Disney here, it’s free.
Warner Music Group (NASDAQ: WMG)
Launching the careers of legendary artists like Frank Sinatra, Warner Music Group (NASDAQ: WMG) is a music company managing a diverse portfolio of artists, recordings, and music publishing services worldwide.
Warner Music Group reported revenues of $1.63 billion, up 2.8% year on year. This result topped analysts’ expectations by 2.8%. Overall, it was a strong quarter as it also produced a decent beat of analysts’ adjusted operating income and EPS estimates.
Warner Music Group scored the biggest analyst estimates beat among its peers. The stock is down 5.7% since reporting and currently trades at $31.75.
Read our full, actionable report on Warner Music Group here, it’s free.
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