Recap: AT&T, Comcast, Microsoft, Akamai, Fastly, Limelight Q3 Earnings
Here’s a quick recap of what you need to know from Q3 earnings from AT&T, Comcast, Microsoft, Akamai, Fastly, and Limelight. I’ll post another roundup from Apple, Amazon, Facebook, Google and Twitter shortly.
AT&T Q3 Earnings: Lost 590,000 premium TV subs, (37,000 of which were AT&T TV NOW subs). Grew HBO Max to 8.6M subs. A record high 357,000 AT&T Fiber net adds and 158,000 total broadband net adds.
- Total revenue of $34.3 billion, down 3.1% year over year
- Video revenue: $7.0 billion, down 12.2% year over year due to declines in premium and OTT subscribers and the impact of COVID-19 on commercial revenues
- WarnerMedia revenue: $7.5 billion, down 10.0% year over year driven by declines across Warner Bros. and Home Box Office, partially offset by an increase at Turner
- AT&T TV NOW subscribers: 37,000 net loss due to less promotional activity
- More than 90% of all broadband subscribers on AT&T’s fiber network subscribe to speeds of 100 megabits or more. More than 2.8 million fiber subscribers have taken 1 Gb speeds
- Total domestic HBO and HBO Max subscribers top 38 million and 57 million worldwide
Comcast Q3 Earnings: Lost 273,000 pay TV subscribers (down from 477,000 in Q2); 22 million sign ups for Peacock TV (up from 10M in Q2); Revenue of $25.5B (up from $23.7B in Q2).
- Total High-Speed Internet Customer Net Additions Were 633,000, the Best Quarterly Result on Record
- Premier League Viewership Reached Record Levels on Sky Sports, Including the Highest Average Season Viewership on Record for the 2019/20 Season and the Highest Daily U.K. Viewership on Record for the 2020/21 Season to Date
- Cable Networks revenue decreased 1.3% to $2.7 billion in the third quarter of 2020, due to lower distribution revenue and advertising revenue, partially offset by higher content licensing and other revenue
- Broadcast Television revenue increased 8.3% to $2.4 billion in the third quarter of 2020, due to higher content licensing revenue and distribution and other revenue, partially offset by lower advertising revenue
Microsoft Q3 Earnings: Revenue of $37.2B, up 12% y/o/y; Intelligent Cloud revenue of $13B, up 20% y/o/y. Office Consumer products and cloud services revenue increased 13% and Microsoft 365 Consumer subscribers increased to 45.3M.
- LinkedIn revenue increased 16%
- Xbox content and services revenue increased 30%
- Surface revenue increased 37%
- Search advertising revenue excluding traffic acquisition costs decreased 10%
- Revenue in More Personal Computing was $11.8 billion and increased 6%
Akamai Q3 Earnings: Total revenue $793 M, up 12% y/o/y; Web Division revenue $418 M, up 8% y/o/y; Media and Carrier Division revenue $375 M, up 16% y/o/y; Cloud Security Solutions revenue $266 M, up 23% y/o/y. Full year revenue guidance of $3.164B to $3.189B for 2020.
- U.S. revenue was $437 million, up 6% year-over-year, International revenue was $355 million, up 20% year-over-year
- Cash from operations for the third quarter of 2020 was $402 million, or 51% of revenue. Cash, cash equivalents and marketable securities was $2.6 billion as of September 30, 2020
- Revenue from Internet Platform Customers was $51 million, same as in Q2
Fastly Q3 Earnings: Revenue of $71M, up 42% y/o/y; GAPP operating loss of $23M; Capital expenditures of $14M, or 20% of revenue; Adjusted full-year 2020 guidance to $288.2M-$292.2M ($8M from Signal Sciences acquisition).
- As of Q3 2020, Fastly was in 55 markets, providing access to 106 Tb/sec. of global network capacity
- Total customer count increased to 2,047 up from 1,951 in Q2 2020
- Total enterprise customer count of 313, up from 304 in Q2 2020
- Average enterprise customer spend of approximately $753,000, up from $716,000 in Q2 2020
- ended Q3 2020 with $472 million in cash, restricted cash, and investments in marketable securities
- Compute@Edge has moved out of beta and into limited availability
Limelight Q3 Earnings: Revenue of $59.2M, up 15% year-over-year and 1.1% quarter-over-quarter. Reported a GAAP net loss of $4.0M. Leaving full-year 2020 guidance unchanged at $230M-$240M. 20 customers accounted for approximately 79% of their revenue so far this year.