IBC365 recounts the standout company results in the media and broadcast industry.
Huawei sees strong revenue growth
Chinese telecom giant Huawei’s revenues in 2019 climbed 19.1% to 858.8 billion yuan ($123 billion) with net profit of 62.7 billion yuan, the company reported in March in an official statement.
Huawei’s strong revenue momentum came despite sanctions imposed by the US government, which saw the company placed on a blacklist in early 2019 last year, barring it from sourcing critical components from US suppliers.
Rotating chairman of the company Eric Xu said that 2019 “was an extraordinary year for Huawei, despite enormous outside pressure”.
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HPE Q1 revenue misses the mark
Hewlett Packard Enterprise Company delivered its Q1 2020 earnings at the end of March, reporting 44 cents per share (EPS).
The reported figure also came in higher than results reported in 2019 which stood at 42 cents per share.
Despite a better than expected performance, HPE’s shares depreciated nearly 6% in the extended trading session on 31 March, as revenues missed the consensus mark.
Adobe continues to steady growth
Adobe has made a profit of US$3.23bn on revenue of US$11.7b in the past twelve months, it reported in early April. Profits and revenue have both grown over the last three years.
On 12 December last year, Adobe reported financial results for its fourth quarter and fiscal year 2019 in which it achieved a record quarterly revenue of $2.99 billion and surpassed $11 billion in annual revenue
Netflix share price surges to a two year high
Netflix shares rose more than 7% Monday, boosting its year to date gain to 23%.
The stock set a new 52-week high, nearing an all-time record and briefly traded above $400 for the first time in almost two years.
Netflix is set to report Q1 2020 results later in April 2020. Analysts predict the company to produce better-than-forecast subscriber gains in the first quarter, with reduced churn and a higher number of subscribers opting for plans with more simultaneous streams.
ITV Hub shows healthy 82% year on year growth
UK public service broadcaster ITV announced increased viewing figures for its ITV Hub VoD platform for Q1 2020.
Year on year consumption hours have increased by 82 per cent, while monthly reach on the platform has risen by 40 per cent. ITV Hub plus, ITV’s ad free service, has also grown 80 per cent since the same period last year.
Due to the Euro 2020 tournament not going ahead this summer in light of the coronavirus lockdown, the Hub will also be showing every match from the legendary Euro 96 football tournament this May.