Telecommunications

CFRA Lowers Opinion On Shares Of Cisco Systems, Inc. (NASDAQ: CSCO) To Hold From Buy

/ / Telecommunications /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target price at $55, 14.3x our FY 25 (Jul.) EPS estimate, in line with its three-year forward average P/E, reflecting our growth concerns. We lower our FY 24 EPS estimate by $0.16 to $3.72 and trim FY 25’s by $0.22 to $3.84. Cisco Systems, Inc. (NASDAQ: CSCO) reported Jan-Q operating EPS of $0.87 vs. $0.88, $0.03 above the consensus. Jan-Q revenue fell 6%, driven by a 12% decline in the Networking segment, due to weak demand across switching, wireless, and routed optical networking, partially offset by 3% growth in Security, driven by its Zero Trust offering and a 3% increase in Collaboration, driven by growth in devices and calling. CSCO announced it would cut its workforce by 5%, or roughly 4.2K employees, in […]

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Roku Inc (NASDAQ:ROKU) Q4 Earnings Highlights: Revenue Beat, EPS Beat, Q1 Guidance, 80 Million Active Accounts

/ / Telecommunications /

Streaming platform and hardware company Roku Inc (NASDAQ:ROKU) reported fourth-quarter financial results after the market close Thursday. Here are the key highlights. What Happened: Roku reported fourth-quarter revenue of $984.42 million, which was up 14% year-over-year. The revenue came in ahead of a Street consensus estimate of $966.3 million, according to data from Benzinga Pro. The company reported a loss of 55 cents per share, beating a Street estimate of a loss of 57 cents per share. Platform revenue was $828.9 million in the quarter, which was up 13% year-over-year. Devices revenue was $155.6 million in the quarter, which was up 15% year-over-year. Roku ended the fourth quarter with 80 million active accounts, up 14% year-over-year. The company added 4.2 million net accounts in the quarter. Average revenue per user was $39.92 in the fourth quarter, down 4% year-over-year. The company said it had 29.1 billion streaming hours in the fourth quarter, up

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Roku, Inc. (NASDAQ: ROKU) Q4 Net Loss Narrows, Revenue Rises; Q1 Revenue Guidance Set;

/ / Telecommunications /

Roku, Inc. (NASDAQ: ROKU) reported Q4 net loss late Thursday of $0.55 per diluted share, narrowing from the loss of $1.70 a year earlier. Analysts polled by Capital IQ expected a loss of $0.55. Revenue in the quarter ended Dec. 31 rose to $984.4 million from $867.1 million a year earlier. Analysts surveyed by Capital IQ expected $967.1 million. In Q1, the company expects revenue of $850 million. Analysts in a Capital IQ poll expect $834.8 million. Roku shares slumped 14% in recent after-hours trading.

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Roku, Inc. (NASDAQ: ROKU) Q4 2023 Earnings Conference

/ / Telecommunications /

The following is a summary of the Roku, Inc. (ROKU) Q4 2023 Earnings Call Transcript: Financial Performance: Roku’s Q4 total net revenue grew 14% year-over-year to $984 million. Platform revenue was $829 million, a 13% increase from the previous year, driven by streaming services distribution and video advertising. Devices revenue increased by 15% year-over-year, led by the launch of Roku-branded TVs. Q4 total gross margin stood at 44%. Platform gross margin was stable at 55%, while device margin improved to negative 13% due to better supply chain costs and limited promotional discounts. Adjusted EBITDA for Q4 was $48 million, and free cash flow was $176 million over the last 12 months. Roku ended the quarter with over $2 billion in cash and cash equivalents. ARPU decreased by 4% to $39.92 in Q4 due to an increase in international active accounts. For Q1 2024, Roku projects a total net revenue of

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Charter Communications Faces Subscriber Pressure From Rivals, Fading Subsidies

/ / Telecommunications /

Charter Communications is facing heightened competition from Verizon and T-Mobile’s wireless home internet products, and the cable company could soon lose even more subscribers when a key government program runs out of funding in April, JPMorgan analysts say in a research note. Charter’s 4Q results revealed a surprisingly steep loss of broadband subscribers, the analysts note. They add that the end of the Affordable Connectivity Program, which gave $30 a month to eligible customers to put toward their internet bills, could hurt Charter more than its peers. They cut their rating on the stock to neutral. Shares fall 3.1%.

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Verizon Invests in Customer Experience; Names First-ever Chief Experience Officer

/ / Telecommunications /

Verizon invests in customer experience; names first-ever Chief Experience Officer Also taps former Walmart executive Dory Butler to lead work across consumer channels NEW YORK, Feb. 05, 2024 (GLOBE NEWSWIRE) — Verizon is investing more in customer experience with the creation of an organization dedicated solely to creating the best experiences for customers and employees. Under Verizon Consumer CEO Sowmyanarayan Sampath, Brian Higgins has been appointed as the company’s first-ever Chief Customer Experience Officer for the consumer group. Former Walmart executive Dory Butler will join Higgins as senior vice president of Customer Experience, where she will lead the development and delivery of high-quality sales and service experiences focusing on the end-to-end consumer journey. The Customer Experience Organization will invest heavily in transforming the way customers do business with Verizon, and how our employees serve them. Focus areas include AI and personalization, digital channel and systems functionality and delivering best-in-class experiences

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AT&T (NYSE:T) Stock Analyst Ratings

/ / Telecommunications /

AT&T (NYSE:T) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/01/2024 10.56% Citigroup $19 → $20 Maintains Buy 02/01/2024 16.09% JP Morgan $18 → $21 Upgrades Neutral → Overweight 01/31/2024 60.31% Tigress Financial $28 → $29 Maintains Buy 01/31/2024 10.56% Barclays $17 → $20 Maintains Equal-Weight 01/25/2024 32.67% Deutsche Bank $23 → $24 Maintains Buy 01/19/2024 16.09% Oppenheimer → $21 Upgrades Perform → Outperform 12/13/2023 10.56% Wells Fargo $17 → $20 Maintains Overweight 10/23/2023 -0.5% Citigroup $17 → $18 Maintains Buy 10/23/2023 5.03% Morgan Stanley $20 → $19 Maintains Equal-Weight 10/20/2023 2.27% Scotiabank → $18.5 Upgrades Sector Perform → Sector Outperform 10/12/2023 -6.03% JP Morgan $18 → $17 Maintains Neutral 08/29/2023 -6.03% Citigroup → $17 Upgrades Neutral → Buy 08/10/2023 -22.61% RBC Capital $19 → $14 Maintains Sector Perform 08/03/2023 10.56% Morgan Stanley $20 → $20 Reiterates Equal-Weight → Equal-Weight 07/27/2023 10.56%

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Cable Stocks Fall After Charter Loses Subscribers

/ / Telecommunications /

By Will Feuer Shares of cable companies took a hit Friday after Charter Communications reported soft fourth-quarter earnings and said it lost tens of thousands of internet subscribers. Comcast shares traded 3% lower at $45.22. That stock is up 10% from 12 months ago. Altice USA shares slipped more than 8% to $2.27. Altice stock is down nearly 58% over the past 12 months. Shares of Charter dropped more than 11%, leading the sector lower. Charter said it lost 61,000 internet customers in the fourth quarter, with nearly all of the decline from residential customers. Analysts had expected the company to add 6,000 internet customers. Chief Financial Officer Jessica Fischer had warned in December that the company could lose internet customers in the quarter. At the time, speaking at an analyst conference, she said the company was facing short-term challenges and that results would be in line with the rest

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Charter Communications Falls as Loss of Internet Customers Hits the Stock — Barrons.com

/ / Telecommunications /

By Angela Palumbo Charter Communications stock was tumbling Friday after the parent company of Spectrum Networks reported a surprise loss in internet subscribers. Charter shares were sinking 12% to $336.86. The stock was on pace for its largest percentage decrease since December 2022 and lowest close since June 2023, according to Dow Jones Market Data. The stock was also the second-worst performer in the S&P 500 Friday. The index was up 0.3%. The cable company said Friday that total residential and small- and medium-business internet customers declined by 61,000 in the fourth quarter ended Dec. 31. Analysts surveyed by FactSet were expecting internet customers to increase by 6,000. “Internet growth in our existing footprint has been challenging driven by admittedly more persistent competition from fixed wireless,” Chief Executive Christopher Winfrey said on the earnings call. Residential video customers decreased by 248,000 in the quarter, compared with Wall Street estimates for

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