CMCSA

Looking back on consumer discretionary - wireless, cable and satellite stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including Comcast (NASDAQ:CMCSA) and its peers. The Consumer Discretionary sector, by definition, is made up of companies selling non-essential goods and services. When economic conditions deteriorate or tastes shift, consumers can easily cut back or eliminate these purchases. For long-term investors with five-year holding periods, this creates a structural challenge: the sector is inherently hit-driven, with low switching costs and fickle customers. As a result, only a handful of companies can reliably grow demand and compound earnings over long periods, which is why our bar is high and High Quality ratings are rare. Wireless, cable, and satellite companies provide pay-TV, broadband internet, and mobile connectivity through large fixed-infrastructure networks. Tailwinds include growing bandwidth consumption, bundling opportunities across video, internet, and wireless services, and rural broadband subsidies from government programs. However, headwinds are pronounced: cord-cutting continues to erode traditional video subscriber bases, capital expenditure requirements for network upgrades (such as fiber overbuilds and 5G rollouts) are substantial, and aggressive promotional pricing among competitors compresses margins. Regulatory oversight on pricing and net neutrality adds uncertainty, while streaming platforms increasingly bypass traditional distributors, reducing the value of the legacy pay-TV bundle. The 7 consumer discretionary - wireless, cable and satellite stocks we track reported a mixed Q2. As a group, revenues were in line with analysts’ consensus estimates. In light of this news, share prices of the companies have held steady as they are up 3.6% on average since the latest earnings results. Formerly known as American Cable Systems, Comcast (NASDAQ:CMCSA) is a multinational telecommunications company offering a wide range of services. Comcast reported revenues of $29.57 billion, up 4.7% year on year. This print exceeded analysts’ expectations by 1%. Overall, it was a satisfactory quarter for the company with a beat of analysts’ EPS estimates. Comcast achieved the biggest analyst estimate beat and fastest revenue growth in the group. Unsurprisingly, the stock is up 13.2% since reporting and currently trades at $26.64. Is now the time to buy Comcast? Access our full analysis of the earnings results here, it’s free. Founded by Alexander Graham Bell, AT&T (NYSE:T) is a multinational telecomm conglomerate providing a range of communications and internet services. AT&T reported revenues of $31.56 billion, up 2.3% year on year, falling short of analysts’ expectations by 0.6%. However, the business still had a satisfactory quarter with a beat of analysts’ EPS estimates. The market seems happy with the results as the stock is up 16.5% since reporting. It currently trades at $25.93. Is now the time to buy AT&T? Access our full analysis of the earnings results here, it’s free. Founded in 1986, Cable One (NYSE:CABO) provides high-speed internet, cable television, and telephone services, primarily in smaller markets across the United States. Cable One reported revenues of $348.9 million, down 8.4% year on year, in line with analysts’ expectations. It was a slower quarter as it posted a significant miss of analysts’ EPS estimates and a miss of analysts’ EBITDA estimates. Cable One delivered the slowest revenue growth among its peers. As expected, the stock is down 44.2% since the results and currently trades at $24.82. Read our full analysis of Cable One’s results here. Known for its commercial-free music channels, Sirius XM (NASDAQ:SIRI) is a broadcasting company that provides satellite radio and online radio services across North America. Sirius XM reported revenues of $2.16 billion, up 1% year on year. This print topped analysts’ expectations by 1%. More broadly, it was a mixed quarter as it also recorded a decent beat of analysts’ EBITDA estimates but a significant miss of analysts’ EPS estimates. The stock is down 13.9% since reporting and currently trades at $28.06. Read our full, actionable report on Sirius XM here, it’s free. Operating as Spectrum, Charter (NASDAQ:CHTR) is a leading telecommunications company offering cable television, high-speed internet, and voice services across the United States. Charter reported revenues of $13.53 billion, down 1.7% year on year. This number met analysts’ expectations. Zooming out, it was a mixed quarter as it also produced a beat of analysts’ EPS estimates but a miss of analysts’ EBITDA estimates. The stock is up 18.4% since reporting and currently trades at $149.80. Read our full, actionable report on Charter here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

Netflix's revenue growth is cooling, and the line that actually compounds for shareholders has been running far ahead of it. Netflix (NFLX) has lost about 35% of its value over the past year while the S&P 500 gained 21%, and revenue growth has cooled to 13.4% in the second quarter of 2026, the slowest of the last four quarters. The sales line, though, is not the main thing driving Netflix's per-share earnings. Earnings Per Share Compounded About 50% A Year Over Three Years Over the past three years per-share earnings compounded at about 50% a year, against 14.6% for revenue. Two levers opened that gap, and neither is the top line: an operating margin that traveled from 17.5% three years ago to 23.8% two years ago and 29.7% over the last twelve months, on $48.4 billion of revenue, and a shrinking share count. So the number a shareholder owns can keep compounding while the top line decelerates. Content Spending Is Growing More Slowly Than Revenue On Purpose That margin is a policy, not a windfall. For 2026, management forecasts content expense up about 10% against full-year guided revenue growth of 13% to 14%, or roughly 12% excluding currency, and says outright that it grows content spend slower than revenue. That 10% is above the 8% averaged over the past five years, and the gap doing the work here is only a few points wide. The mix inside the budget is where the trade-offs show. Live programming is set to take about 5% of the 2026 content budget and produce about 1% of viewing hours, and management's case for it is sign-ups rather than hours, since six of the ten biggest new-member sign-up days over the past five years came from live events. Cloud games and video podcasts are expanded gradually where management believes it can add more value for members, with the games investment still very small relative to overall content spend. Margin that comes from cost discipline is the sort of profitability trend the Trefis High Quality Portfolio looks for in its holdings. A $4.7 Billion Buyback Quarter, The Largest In Netflix's History Netflix repurchased $4.7 billion of stock in the second quarter of 2026, with about $27 billion of authorization still open. Over three years the share count is down about 5.6%, and buybacks have run ahead of stock-based compensation, so the reduction is real rather than a plug for dilution. Fewer shares against a faster-growing profit pool add a further, smaller push on top of the margin gains. At 24 Times Earnings, What Would Have To Go Wrong The case is not that growth is about to re-accelerate. That margin, 29.7% over the last twelve months, is up from only 29.5% a year earlier, so the compounding from here leans more on holding content growth below revenue and on the buyback than on fresh margin, and a content bill that outran revenue would end it. At 24 times earnings, toward the low end of a ten-year range running from 15.3 to 285, the price appears to give that profit line little credit, and sorting names that have fallen this far on what they still earn is what a dip-buying screen is built to do. Even A Compounding Engine Can Re-Rate Downward Netflix's three-year per-share compounding did not stop the stock from giving up about a third of its value over the past year, which is what a single position can do even when the business behind it is working. The Trefis High Quality Portfolio takes the other route, spreading that risk across a rules-based basket of quality names. That portfolio has a track record of outpacing the three major indices - the S&P 500, S&P Mid-cap, and Russell 2000.

Interested in Arlo Technologies, Inc.? Here are five stocks we like better. Record Q2 performance: Revenue rose 21% year over year to $155.9 million, while subscriptions and services revenue increased 19% to $93 million. Arlo added 298,000 paid accounts, reaching 6.3 million, and annual recurring revenue grew 16% to $365 million. Profitability improved, but tariff refunds helped: Adjusted EBITDA increased 70% to $30.6 million, and consolidated non-GAAP gross margin reached a record 50% plus. However, $8 million in tariff refunds boosted product gross margin and contributed approximately $0.07 to adjusted EPS. 2026 outlook raised: Arlo now expects full-year revenue of $580 million to $600 million and non-GAAP EPS of $0.90 to $1.00. Growth plans include the September launch of higher-priced Secure 7 services, expanding partnerships with ADT and Comcast, Aloe Care market tests, and additional share repurchases. Arlo Technologies Stock is Turnaround Pullback Play Arlo Technologies (NYSE:ARLO) reported record second-quarter results, citing growth in subscription services, paid accounts and total revenue as the company raised its full-year 2026 outlook. Chief Executive Officer Matt McRae said service revenue, total revenue, gross profit and non-GAAP net income all reached company records during the quarter. Total revenue rose 21% year over year to $155.9 million, while subscriptions and services revenue increased 19% to $93 million and represented 60% of total sales. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth The company added 298,000 paid accounts during the period, bringing its paid-account base to 6.3 million. McRae said point-of-sale unit volume across retail and direct channels increased 8% during the quarter, while the quality of the paid subscriber portfolio improved through higher average revenue per user, lower churn and stronger-than-forecast subscription renewals. Arlo said the lifetime value of a paid account reached $967, up 15% from a year earlier. Annual recurring revenue grew 16% year over year to $365 million, supported by subscriber growth and a slight increase in ARPU. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Chief Financial Officer and Chief Operating Officer Kurt Binder said non-GAAP subscriptions and services gross margin was 84.1% in the quarter. Product gross margin was 1%, compared with negative 13.8% in the prior-year period, aided by approximately $8 million in tariff refunds recorded during the quarter and a higher mix of strategic-partner product sales. Excluding the tariff refunds, Binder said product gross margin would have been negative 11.6%, an improvement of 220 basis points from a year earlier. Consolidated non-GAAP gross margin exceeded 50%, rising 480 basis points year over year to a company record. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling Non-GAAP operating expenses increased 16.5% to $48.6 million, driven by research and development investment, platform work for strategic partners and professional-services costs tied to growth initiatives. Adjusted EBITDA rose 70% from a year earlier to $30.6 million, representing a 20% margin. Non-GAAP earnings per diluted share were $0.28, including a $0.07 favorable impact from tariff refunds. On a pro forma basis excluding those refunds, Binder said non-GAAP EPS would have been $0.21, above the midpoint of the company’s guidance range and consensus estimates. Arlo ended the quarter with $141 million in cash equivalents and short-term investments. During the first six months of 2026, the company generated $33.9 million in free cash flow, equal to an 11% free-cash-flow margin. Product revenue rose 23% year over year to $62.9 million. Binder attributed the increase to international growth and retail-channel shipments ahead of Amazon Prime Day, which occurred in late in the second quarter this year. Point-of-sale volume rose 9% in the first half compared with the same period in 2025. Management said promotional spending on hardware is intended to acquire and activate new households that can later convert into high-margin subscription customers. Binder said product gross margins are expected to return to negative mid- to high-single-digit levels, potentially reaching the negative teens, as Arlo continues to use product sales and promotions as a customer-acquisition tool. McRae said the company has used advertising targeted at unpaid users to convert “tens of thousands” of subscribers to paid plans this year. He added that Arlo sees higher subscription conversion when households expand from one camera to multiple cameras. Arlo also said customers have been shifting toward higher-tier service offerings, contributing to ARR growth. The company plans to launch Arlo Secure 7 in September, including a new service tier priced above its current offerings. McRae said the release will include additional AI capabilities designed to assess an entire security event and its potential threat level, as well as customer-requested application and service enhancements. McRae said ADT’s Blu offering has launched and is expected to ramp through the second half of 2026, with greater activity anticipated next year. He said work with Comcast remains on track, with the company seeking to launch closer to the first quarter of 2027 rather than the second quarter, subject to field testing. The company also discussed its acquisition of Aloe Care, which expands Arlo’s presence in smart elder care and aging-in-place services. McRae said Home Helpers is an early commercial partner and that Arlo expects several additional partner announcements over the next six to nine months. The company plans market tests for Aloe Care’s direct-to-consumer, do-it-yourself channel in the fourth quarter. Arlo repurchased more than $20 million of stock during the second quarter and has bought back nearly 6 million shares since launching its repurchase program. McRae said management and the board believe the shares are undervalued and expect additional repurchases. For the third quarter, Arlo expects total revenue of $140 million to $150 million and non-GAAP diluted EPS of $0.17 to $0.23. The company said it plans to use any third-quarter tariff refunds to fund investments in strategic partners, promotions, technology development and market tests. For the full year, Arlo raised its outlook and now expects: Total revenue of $580 million to $600 million. Non-GAAP net income per diluted share of $0.90 to $1.00. McRae said Arlo is targeting roughly 20% ARR growth as it exits 2026, supported by continuing subscriber additions, improving account metrics and the planned Secure 7 launch. Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces. Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Arlo Technologies Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

A $1.1 billion non-cash impairment charge weighed heavily on The E.W. Scripps Company’s (NASDAQ:SSP) second-quarter 2026 results, although the media company continued to advance its transformation strategy, expand cost savings and reaffirm expectations for a strong political advertising year. Scripps (NASDAQ:SSP) reported a net loss of $1.2 billion, primarily due to a $1.1 billion non-cash goodwill and intangible asset impairment. The company is targeting $125 million to $150 million of enterprise EBITDA growth by 2028 and expects approximately $100 million of annual run-rate cost savings by the end of 2026. Local political advertising reached a second-quarter record, with full-year political revenue now projected between $225 million and $250 million. Retransmission disputes with Comcast and DirecTV reduced second-quarter distribution and advertising revenue, while Scripps Networks continued to face pressure from advertising and audience trends. The company expects Local Media revenue to increase about 20% in the third quarter, supported by the election cycle. Scripps reported second-quarter revenue of $490 million, down 9.2% year over year, while recording a loss attributable to shareholders of $1.2 billion, or $12.68 per share. The reported loss was largely driven by a $1.1 billion non-cash goodwill and intangible asset impairment within its Scripps Networks business, accounting for $11.61 per share of the loss. Operationally, Local Media revenue declined 5.4% to $317 million as retransmission negotiations with Comcast and DirecTV resulted in temporary station blackouts that reduced distribution revenue by $26.7 million during the quarter. Political advertising provided a significant offset, reaching a record $28 million in the quarter compared with $2.6 million a year earlier. Scripps Networks revenue fell 16% to $172 million, reflecting the sale of Court TV, continued weakness in the national advertising market, declines in traditional linear television viewing and changes to Nielsen’s audience measurement methodology. While the headline loss was driven by a non-cash accounting charge rather than ongoing operations, the results underscore the structural challenges facing traditional television broadcasters. Weak national advertising demand, declining linear audiences and distribution disputes continue to pressure revenue across the industry. At the same time, Scripps is attempting to reshape its business through a broad transformation programme. Management expects approximately $100 million of annualised cost savings to be in place by year end and continues to target $125 million to $150 million of enterprise EBITDA growth by 2028 through expense reductions and revenue initiatives. The company is also expanding its sports broadcasting portfolio and pursuing acquisitions and station swaps intended to strengthen its local television footprint. Investors will also note the company’s leveraged balance sheet, with $2.5 billion of total debt at quarter end, alongside cumulative unpaid preferred dividends of $150 million, highlighting that balance sheet execution remains an important part of the investment story. Investors will be monitoring whether Scripps delivers the projected cost savings from its transformation plan, restores revenue following retransmission agreement renewals, and capitalises on elevated political advertising through the remainder of 2026. Progress integrating new sports rights agreements and executing additional strategic transactions may also influence sentiment, alongside management’s ability to improve cash generation while managing its debt obligations. E.W. Scripps Company stock price

Versant Media Group raised its full-year revenue and profit outlook on Thursday, as growth in its digital platforms helped cushion a continued decline in pay TV revenue. For full-year 2026, Versant is guiding to total revenue between $6.2 billion and $6.45 billion, with adjusted EBITDA in the range of $1.9 billion to $2.05 billion. It maintained its free cash flow outlook of $1.0 billion to $1.2 billion. Versant posted second-quarter revenue of $1.64 billion, down 3.8% from $1.71 billion a year earlier. Net income attributable to Versant came in at $211 million, or $1.49 per diluted share, a 30% drop from $302 million, or $2.09 per share, in the year-ago quarter. Versant pointed to a combination of weaker revenue, costs from operating as a standalone public company, interest obligations stemming from the Comcast split, and a larger tax bill driven by the SportsEngine divestiture as factors weighing on the bottom line. Adjusted EBITDA declined 8.9% to $624 million. The results beat Wall Street expectations, according to CNBC. Analysts had expected earnings of $1.35 per share on revenue of $1.62 billion. Revenue from Versant's linear distribution segment, encompassing pay TV networks including CNBC, MS Now, USA Network and Golf Channel, dropped 6.3% to $954 million, as subscriber erosion more than countered modest contractual rate increases. Advertising revenue slipped 0.6% to $423 million. The platforms segment, home to Fandango and GolfNow, grew 0.8% to $225 million; stripping out the SportsEngine sale, the gain was 9.3%, with Fandango benefiting from stronger ticket and video-on-demand sales and GolfNow seeing increased booking activity. CEO Mark Lazarus said in a statement that Versant's brands reached more than 120 million viewers each month during the quarter, with PGA TOUR golf coverage delivering its most-watched second quarter since 2020. On a standalone adjusted EBITDA basis — a measure designed to put pre-spin and post-spin results on a comparable footing — the figure was 3% higher than a year ago, the company said. Versant credited the gain to savings on programming and other operating costs, which were enough to absorb the pressure from declining revenue. Versant finished its previously announced $100 million accelerated buyback program during the quarter and intends to launch a new $100 million class A share repurchase on Aug. 7, which it expects to wrap up before year-end. The company also declared a quarterly dividend of $0.375 per share for the third consecutive quarter, payable Oct. 22 to shareholders of record as of Oct. 1. The results mark Versant's third quarterly report as an independent, publicly traded company since its separation from Comcast's NBCUniversal earlier this year.

Comcast’s second quarter results were marked by a mix of progress and ongoing challenges, with the company surpassing Wall Street’s revenue and profit expectations but facing a negative market reaction. Management highlighted steady gains in wireless services, which delivered record net line additions and increasing premium plan uptake. However, softness in domestic broadband, where subscriber losses persisted despite improved customer satisfaction, remained a concern. CEO Brian Roberts pointed to the company’s strategic pivot in broadband pricing and packaging, while CFO Jason Armstrong acknowledged that intensified competition and investments in customer experience weighed on near-term financial results. Is now the time to buy CMCSA? Find out in our full research report (it’s free). Revenue: $29.57 billion vs analyst estimates of $29.27 billion (4.7% year-on-year growth, 1% beat) Adjusted EPS: $1.04 vs analyst estimates of $0.97 (7.6% beat) Adjusted EBITDA: $8.92 billion vs analyst estimates of $8.87 billion (30.2% margin, 0.6% beat) Operating Margin: 17.5%, in line with the same quarter last year Domestic Broadband Customers: down 3.05 million year on year Market Capitalization: $87.33 billion While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. John Hodulik (UBS) asked about the broadband market’s competitive intensity; SVP Steven Croney acknowledged ongoing fiber and fixed wireless expansion and emphasized the importance of differentiated customer experience and converged offerings. Craig Moffett (MoffettNathanson) questioned the threat posed by Starlink; CFO Jason Armstrong stated that while Starlink is not yet a major factor, Comcast is monitoring its progress and leveraging its own network advantages. Peter Supino (Wolfe Research) inquired about wireless strategy and premium plan uptake; Croney explained that free line promotions have driven awareness and that over 30% of new connects now select premium unlimited plans. Steve Cahall (Wells Fargo) sought clarification on when broadband ARPU and C&P EBITDA pressures would ease; Armstrong confirmed expectations for modest improvements as free lines convert and marketing investments moderate. Jessica Reif Ehrlich (Bank of America) asked about NBCUniversal’s scale post-separation; President Michael Cavanagh responded that the standalone media entity would have sufficient heft and flexibility to compete and build partnerships. Looking forward, the StockStory team will be watching (1) the pace at which free wireless lines are converted to paid subscribers and whether this drives broadband stabilization, (2) Peacock’s ability to maintain profitability through content investments and subscriber retention, and (3) signs of recovery in domestic theme park attendance amid ongoing cost pressures. Additionally, progress on the announced corporate separation and Sky’s proposed ITV acquisition will be key milestones to monitor. Comcast currently trades at $24.59, up from $23.52 just before the earnings. Is the company at an inflection point that warrants a buy or sell? See for yourself in our full research report (it’s free for active Edge members). ALSO WORTH WATCHING: Top 5 Momentum Stocks. The best time to own a great stock is when the market is finally noticing it. These aren’t just high-quality businesses. Something is happening with them right now. Elite fundamentals meet near-term momentum — both boxes checked at the same time. Find out which stocks our AI platform is flagging this week. See this week’s Strong Momentum stocks — FREE. Get Our Strong Momentum Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+1,154% between June 2020 and June 2025). Find your next big winner with StockStory today.

Jefferies lowered the price target on Disney to $125 from $132 and kept a ‘Buy’ rating on the shares, as per TheFly. Jefferies said Disney's targets remain achievable but warned that Netflix and Comcast's results, along with mixed trends in U.S. parks and streaming, could limit upside. Citi slashed the price target on Disney to $135 from $145 and maintained a ‘Buy’ rating on the shares, citing risk to Disney's fiscal 2026 guidance, while also noting that the company’s attendance volumes are "healthy" in fiscal Q3. Shares of Walt Disney Co. (DIS) are headed for a third consecutive month in the red, if losses hold in the final trading session of July. The stock is down about 0.1% in July, after posting declines in May and June. See what 10M+ investors are talking about. Get the Stocktwits Daily Rip for what retail is watching right now, free to your inbox Meanwhile, Wall Street analysts are slashing targets on the company ahead of its third-quarter (Q3) results expected on Aug. 5. Jefferies lowered the price target on Disney to $125 from $132 and kept a ‘Buy’ rating on the shares, as per TheFly. Despite positive second-quarter results and "solid" 16% adjusted earnings per share growth guidance, the firm said that Disney’s shares remain under pressure year-to-date due to broader consumer and engagement concerns. While Jefferies said that it continues to believe that Disney’s targets are "achievable," it added that readthroughs from Netflix Inc (NFLX) and Comcast Corp. (CMCSA) results, along with mixed data on U.S. parks and streaming, will "likely take some upside off the table." Morgan Stanley also lowered the firm's price target to $123 from $135 and maintained an ‘Overweight’ rating on the shares. Citi analyst Jason Bazinet slashed the price target on Disney to $135 from $145 and maintained a ‘Buy’ rating on the shares, citing risk to Disney's fiscal 2026 guidance. While attendance volumes are "healthy" in fiscal Q3, Disney's U.S. attendance growth has been "muted," the analyst reportedly said. As per Koyfin data, 31 analysts have a 12-month average price target of $126.74 on DIS shares, implying an upside of nearly 32% from current levels. Consensus estimates from Fiscal.ai data show that analysts expect Disney to post a 7.44% revenue growth, from $23.65 billion in the prior year period to $25.41 billion in Q3. Meanwhile, earnings per share are expected to come in at $1.85, compared to $1.61 in the previous year’s quarter, an increase of nearly 15%. On Stocktwits, retail sentiment around DIS stock was ‘bearish’ at the time of writing amid ‘normal’ message levels. One user said, “$DIS I'm sad to say I own this under performing example of what not to buy.  Barely profitable and annual yield is not something to write home about.” In a separate comment, the same user said, “$DIS Probably the only good thing going into the print next week is that its beat up.  Should soften the blow.” DIS stock is down 14% in 2026. For updates and corrections, email newsroom[at]stocktwits[dot]com. Aashika Suresh has no position in any of the stocks mentioned in this article. StockTwits' news team content is for informational purposes only and is not intended as investment advice. For more, see our editorial policy. This article was originally published on StockTwits. Related: Insurance ETFs Top Defensive Sector Chart In July As Investors Look To Pivot Slightly From Chips And AI AMBA Stock Rockets 18% On NXP Buyout Talks For Self-Driving Chip Maker NVO Stock Ends Three-Month Winning Streak As Novo Nordisk’s Key Heart Drug Flops, Competition Goes To Court

This article first appeared on GuruFocus. Release Date: July 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. AMC Global Media Inc (NASDAQ:AMCX) announced a global co-exclusive licensing agreement with Netflix for the entire Walking Dead universe, totaling $500 million in contracted fees over five years, highlighting the enduring value of its owned IP. The company raised its full-year 2026 AOI guidance to $410-$420 million and free cash flow guidance to approximately $220 million, reflecting improved financial outlook. Streaming services showed strong performance with a double-digit increase in engagement and sequential improvement in retention, even after implementing price increases. AMC Global Media Inc (NASDAQ:AMCX) successfully renewed distribution agreements with four of the top five major domestic MVPDs in the last 12 months, including Comcast and YouTube, demonstrating strong affiliate relationships. The company's linear networks saw ratings growth, with WE TV gaining 21% in primetime and TNA Wrestling hitting an all-time ratings high, indicating robust audience engagement. Consolidated net revenue declined 9% year-over-year to $547 million in Q2 2026, reflecting ongoing challenges in the media landscape. Domestic operations advertising revenue, excluding a one-time technical issue, still declined by mid-single-digits due to lower ratings and marketplace pricing. Affiliate revenue decreased 17% in Q2, in line with expectations but still a significant decline, though improvement is expected in the second half. Subscriber acquisition for streaming services came in slightly below expectations in the first half of 2026, impacted by geopolitical events and high-profile sports programming. The company's net leverage ratio stood at 4.1 times at quarter end, representing the high point for the year, indicating elevated debt levels relative to earnings. Here are the key highlights from the AMC Global Media Inc (NASDAQ:AMCX) Q2 2026 earnings call, presented as Q&A pairs. Warning! GuruFocus has detected 7 Warning Signs with AMCX. Is AMCX fairly valued? Test your thesis with our free DCF calculator. Q: Can you take us behind the scenes on the competitive bidding process for the new Walking Dead licensing deal? How many bidders were there, and what drove your decision to go with Netflix? A: (Kristen Dolan, CEO) We had a lot of major players involved. We always knew we wanted a co-exclusive deal, but the decision involved many factors, including the opportunity to license everything globally to one group versus piecemeal. Netflix has been an incredible partner for this franchise, and at the end of the day, it was the right choice for us. Q: Can you provide more perspective on why the co-exclusive structure was the right choice for The Walking Dead deal, and what impact do you expect on AMC+ engagement? A: (Kristen Dolan, CEO) We feel positive that this will build on the increasing engagement we already see for AMC+. People associate this IP very specifically with AMC, so it can cohabitate nicely on both AMC+ and Netflix. (Kim Kelleher, President and Chief Commercial Officer) We worked for years to align the rights around this franchise to generate the best economic outcome. This co-exclusive arrangement allows us to bring the original Walking Dead series back to AMC+ for the first time, which our fans are very excited about. Q: How should we think about the ratable revenue recognition for The Walking Dead deal and the AOI contribution? Also, what are the underlying changes to guidance ex-Walking Dead? A: (Josefa Lokandwala, CFO) We will recognize $200 to $225 million of revenue in 2026 and 2027, driven by ASC 606 rules. Total revenue for the life of the agreement will be approximately $445 million. AOI will be high margin, as is typical for content licensing. For guidance, we are keeping to our advertising revenue outlook. The new licensing revenue implies domestic content licensing of $460 to $485 million for the year, while domestic subscription revenue will decline about 3% year-over-year. Q: You mentioned that the rate of affiliate revenue declines can improve in the back half of the year with new agreements. Can you provide more detail on those agreements and how they lead to an improved rate? A: (Kristen Dolan, CEO) We are starting to see improving video sub trends in cable. A healthier distribution ecosystem benefits everyone. We are seeing significant engagement from hard bundles like Charters TV Select Plus. (Kim Kelleher, President and Chief Commercial Officer) We renewed our carriage agreement with YouTube during the quarter, a smooth and constructive renewal. We have now renewed with four of the top five major domestic MVPDs in the last 12 months, including Comcast, DirecTV, DISH, and YouTube, and feel strongly about the length and economics we achieved. Q: How does the $100 million in annual cash licensing payments for The Walking Dead over the next five years compare to the average annual licensing payment for the franchise over the last five years? A: (Kristen Dolan, CEO) You can't really compare them. As Kim mentioned, things were licensed in different countries to different people with different tenures. It was hard to know what a good deal was going into the process. It is nearly impossible to answer the question the way you framed it because we were able to bring all the rights back and position them as a global offering for the first time. Q: You recently leaned into live sports and sports-adjacent content. How has engagement looked for these properties, and how much further do you anticipate pushing into this space? A: (Kristen Dolan, CEO) We have been pleasantly surprised by the performance of TNA Wrestling. It is story-driven, character-driven content that aligns nicely with AMC. It also skews younger and male, which ties nicely to our other content. (Dan McDermott, Chief Content Officer) We can be a real provider of sports-adjacent content that services that audience, which has demonstrated a real affinity for this content. We are very much in this business with our Rise Up franchise and other projects. (Kristen Dolan, CEO) In the U.S., our focus continues to be scripted dramas and intriguing unscripted. You won't see us trying to license games, but as great storytellers, it has been beneficial to tell stories about characters and teams. Q: There are several large transactions in the media market. How may these changes impact your business? A: (Kristen Dolan, CEO) Consolidation can be a tailwind for us because fewer, larger platforms all need high-quality content to differentiate. We are one of the few independent suppliers of premium programming and owned IP, as evidenced by the Walking Dead deal. Our goal is to continue to make great IP and meet audiences wherever they are. We are well-positioned and will always answer the phone when it rings, but we are not changing our strategy. Q: What drove the core adjustment to the full-year guidance, specifically regarding slower subscriber acquisition? A: (Kristen Dolan, CEO) There are a variety of things going on, including the impact of the World Cup on a variety of businesses, including ours. However, we are seeing some green shoots and are excited about the increase in streaming over the course of the year. We were also positively impacted by our linear performance. We are more focused on the back half of the year and anticipate much better performance coming out of what we knew would be a lumpy quarter. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Charter Communications, Inc.? Here are five stocks we like better. Charter lost 172,000 internet customers in Q2 as competition from fixed wireless, fiber overlap, and softer low-income demand continued to pressure broadband growth. Management said churn was not the main issue and expects a return to broadband growth over time. Mobile remained a bright spot, with Spectrum Mobile adding 406,000 lines in the quarter and video losses improving sharply to 21,000 from 80,000 a year ago. Charter said mobile and video bundles are helping reduce churn and improve retention. The Cox acquisition is nearing completion, with Charter now expecting the deal to close in mid-to-late August and targeting at least $800 million in annual run-rate synergies, potentially rising to $1 billion. The company also paused buybacks temporarily but expects them to resume in the fourth quarter. Comcast’s NBCUniversal Split Puts Broadband Back in Focus Charter Communications (NASDAQ:CHTR) reported a larger internet customer loss in the second quarter as competitive pressure continued to weigh on new customer additions, while mobile line growth remained strong and video losses improved substantially. The company lost 172,000 internet customers during the quarter, compared with a smaller loss a year earlier. President and CEO Chris Winfrey said weaker gross additions, rather than increased churn, remained the primary reason for the broadband performance. He said expanded fixed-wireless competition, fiber overlap and softer activity among low-income consumers have affected customer acquisition. → Could Truth API Become Trump Media’s First Meaningful Revenue Driver? SpaceX Achieves Escape Velocity With Nasdaq Fast-Track “Internet customer growth is taking longer to reverse,” Winfrey said, adding that Charter expects competitive expansion to eventually subside. The company expects to return to broadband growth over time through its converged internet and mobile offerings, improved network capabilities and better customer satisfaction scores. Charter’s consolidated revenue declined 1.7% year over year in the second quarter. Adjusted EBITDA fell 4.3%, or 3.2% excluding $65 million of transition expenses associated with the pending Cox Communications transaction. → GE Vernova Just Sent a Mixed AI Signal to Investors Disney: How the Fubo Sports Deal Became a Game Changer Chief Financial Officer Jessica Fischer said residential revenue declined 3.5%, though the decline was 1.8% excluding the effect of programmer streaming-app costs allocated to video revenue. Residential revenue per customer relationship also declined 1.8%, but was essentially flat excluding that app-allocation effect. Commercial revenue increased 1.5%, including 2.8% growth in mid-market and large-business revenue. Advertising revenue rose 12.3%, helped by political advertising. Excluding political revenue, advertising revenue declined 4.6%. → D-Wave Quantum or a Quantum ETF: Which Is the Better Bet? Charter generated $1.3 billion in net income attributable to shareholders, essentially unchanged from the prior-year quarter. Lower EBITDA was offset by a gain on debt extinguishment related to open-market debt repurchases. For the full year, Fischer said Charter now expects standalone EBITDA, excluding transition costs, to decline by approximately 1%. The second half is expected to benefit from political advertising, internet cost pass-throughs and efficiency initiatives. Management said it is pursuing additional expense-reduction measures, including benefit-plan changes, overhead simplification and other cost actions. Spectrum Mobile added 406,000 lines in the quarter, bringing Charter’s mobile base to more than 12.5 million lines. Winfrey said the company added 1.7 million lines over the past 12 months, representing 16% growth. Management emphasized mobile’s role in customer retention. Winfrey said internet customers with Spectrum Mobile churn nearly 40% less than customers without mobile service, while customers who also take video churn more than 40% less. Charter’s video customer loss narrowed to 21,000 from 80,000 in the second quarter of 2025. Fischer attributed the improvement to fewer downgrades, lower churn and more upgrades, supported by the company’s programmer-app inclusion packages and pricing changes introduced late in 2024. New connects to its fully featured video package also improved, with some benefit from the World Cup, she said. In subsidized rural markets, Charter added 47,000 net customer relationships during the quarter. Subsidized rural passings increased by 127,000 in the quarter and 487,000 over the past 12 months. Charter said it is making pricing adjustments that include speed upgrades for most affected customers. Fischer said the changes did not affect second-quarter results but should support residential revenue in the second half. Broadband average revenue per user is expected to improve sequentially in the third quarter, aided by the normalization of earlier retention offers and the new cost pass-through. Charter said it now expects its acquisition of Cox Communications to close in mid-to-late August. Winfrey said Charter plans to introduce Spectrum pricing and packaging in Cox markets shortly after closing, aiming to improve internet customer performance and expand penetration of mobile and video services. The company continues to expect at least $800 million in annual run-rate transaction expense synergies and said that estimate could rise to $1 billion after closing. The synergy estimate excludes potential operating and capital-expenditure benefits. Charter is recruiting more than 1,000 residential and business sales employees in Cox territories. It also plans over the next year to onshore and insource Cox call-center activity, moving service coverage in those markets to a 24/7 platform. Winfrey said Charter expects to absorb most or all of the work currently handled by Cox’s offshore contractors through Spectrum’s operating efficiencies and digital capabilities. Management said Cox’s customer and revenue trends have been “a couple clicks lower” than Spectrum’s, but said there has been no major change in the company’s integration strategy. Charter expects the combined company to have approximately 70 million passings, 37 million customers, roughly $67 billion in revenue and about $28 billion in EBITDA. Second-quarter capital expenditures totaled $2.9 billion, nearly flat from a year earlier. Charter maintained its expectation for approximately $11.4 billion in standalone capital expenditures in 2026. Looking beyond 2026, Fischer said annual standalone capital spending is expected to decline to less than $8 billion after network evolution and expansion initiatives are completed. Free cash flow was $1 billion in the second quarter, down about $75 million from a year earlier, reflecting lower EBITDA and less favorable working-capital changes. Charter ended the quarter with $94 billion of debt principal, a weighted average debt maturity of 11.7 years and a weighted average cost of debt of 5.2%. The company repurchased $1.2 billion of its debt in the open market for $1 billion in cash during the quarter, capturing about $250 million of discount. The company also repurchased 4 million shares for $838 million, at an average price of $210 per share. However, it has paused buybacks through the end of the third quarter because of the pending Cox closing, related financing and liability-management efforts. Charter expects repurchases to resume in the fourth quarter. Management lowered its post-transaction leverage target to 3.5 times net debt to adjusted EBITDA and expects to reach that level within three years of the Cox and Liberty Broadband transactions closing. Fischer said Charter expects leverage to be just above 3.9 times at the end of the third quarter, assuming the transactions close and its newly announced debt exchange offer succeeds. Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter's service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs. The company's consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Charter Communications Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.