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Comcast said its second-quarter revenue slumped 12 percent as the impact of the coronavirus squeezed its NBCUniversal entertainment division. The Philadelphia-based cable-TV giant had some bright spots in the quarter — namely an uptick in internet customers and the launch of streaming service Peacock, which has garnered 10 million sign-ups since April, even as cord-cutting …
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Music streaming giant Spotify deepened its loss in the second quarter, even as its total pool of monthly active users neared the 300 million mark. The Stockholm-based company said its net loss swelled to $418 million from a loss of $76 million a year earlier because of dried-up advertising and higher-than-expected payroll taxes linked to …
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Blue Apron’s financials finally look appetizing — but the company warned that its surprise profit won’t last. The New York-based meal-kit maker swung to a $1.1 million profit in the second quarter — a sharp turnaround from its year-ago loss of $7.7 million — as the coronavirus pandemic kept restaurants shuttered and consumers cooking at …
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Harley-Davidson on Tuesday reported an unexpected quarterly loss due to disruptions caused by the coronavirus pandemic, sending its shares sliding more than 9 percent in morning trade. It also unveiled a restructuring strategy that aims to shift focus back to more profitable motorcycles and core markets such as the US. Harley has been struggling for …
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Verizon Communications topped Wall Street’s second-quarter financial estimates on strong demand for its phone and internet services by housebound customers. The telecom giant said Friday that coronavirus-induced stay-at-home orders prompted a shift to remote working and learning, helping it add 173,000 postpaid phone customers, well above analysts’ estimate of 61,200. But even as more customers …
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HBO owner AT&T saw its profit sink in the second quarter as the coronavirus crimped advertising revenue in its entertainment division and accelerated the decline of its satellite TV business. The telecom and media giant said COVID-19-related issues cut into earnings by $830 million, including a 22.9 percent decline in revenue from its WarnerMedia entertainment …
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Unilever’s overall business dipped only slightly in the most recent quarter despite the coronavirus crisis, propped up by surging demand from hunkered-down consumers for ice cream, soup and hand sanitizers. The Anglo-Dutch consumer-products giant said its underlying sales in the second quarter fell just 0.3 percent overall despite a massive plunge in the company’s wholesale …
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Twitter reported its strongest-ever user growth as people took to the social network to chatter about the coronavirus, but its ad sales suffered. Shares of the San Francisco-based company spiked as much as 6 percent in early morning trading after Twitter said that monetizable daily active users (mDAU) increased 36 percent year-over-year to 186 million, …
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Shares of Snapchat parent company Snap Inc. were down as much as 7 percent Wednesday morning after the company said that its coronavirus-related user boost fizzled out sooner than it had anticipated. The disappearing-photo app said daily active users rose 17 percent year-over-year to 238 million in the second quarter, in line with Wall Street’s …
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Coca-Cola’s global sales plummeted 28 percent in the second quarter as coronavirus lockdowns continued to crimp consumption, the company said Tuesday. The soft drink giant said pressure on “away-from-home channels” such as restaurants, bars and movie theaters drove the decline. Officials around the world have shut down such venues — which account for roughly half of Coke’s …
Comcast said its second-quarter revenue slumped 12 percent as the impact of the coronavirus squeezed its NBCUniversal entertainment division. The Philadelphia-based cable-TV giant had some bright spots in the quarter — namely an uptick in internet customers and the launch of streaming service Peacock, which has garnered 10 million sign-ups since April, even as cord-cutting …
