"Total revenue -- $1.69 billion, representing a 1% decrease driven by continued Pay TV pressure, with partial offset from growth in Platforms revenue. Linear distribution revenue -- $1.01 billion, down 7%, due to ongoing cord-cutting, partially offset by contractual rate increases. Advertising revenue -- $368 million, down 5%, but improved from a 12% decline in the prior year's first quarter, driven by strong monetization in news and live content."
"Platforms revenue -- $192 million, an increase of 9% attributed to growth at GolfNow and full integration of Fandango1. Content licensing & other revenue -- $121 million, strongly increased from $57 million, mainly due to licensing deals such as "Keeping Up With the Kardashians," recognized fully in the quarter of delivery."
"Adjusted EBITDA -- $704 million, a 5% rise, reflecting margin above 30% and improved operating efficiency. Programming and production costs -- $519 million, down 5%, reflecting more efficient premium content delivery. Total cost of revenue -- $638 million, a 3% decrease, despite an 11% rise in other cost of revenue from Platforms investment, particularly Fandango1 onboarding."
"SG&A cost -- $346 million, down 9% as a result of organizational efficiency and tech modernization, with expectations of modest increases going forward for D2C development. Free cash flow -- $558 million, supported by timing-related changes in receivables and payables that are expected to normalize as the year progresses. Cash balance -- $1.2 billion at quarter end, with noted liquidity strength."
Total revenue was $1.69 billion, down 1%, driven by continued Pay TV pressure with partial offset from Platforms revenue growth. Linear distribution revenue was $1.01 billion, down 7%, due to ongoing cord-cutting, partially offset by contractual rate increases. Advertising revenue was $368 million, down 5%, improving from a 12% decline previously, supported by strong monetization in news and live content. Platforms revenue was $192 million, up 9%, driven by GolfNow growth and full integration of Fandango. Content licensing and other revenue rose to $121 million from $57 million, mainly from licensing deals such as Keeping Up With the Kardashians recognized in the quarter. Adjusted EBITDA increased 5% to $704 million, with margin above 30% and improved operating efficiency. Programming and production costs fell 5% to $519 million, and total cost of revenue decreased 3% to $638 million despite higher Platforms-related costs. SG&A fell 9% to $346 million, and free cash flow was $558 million. Cash balance was $1.2 billion, and capital returns included a quarterly dividend and share buybacks.
#revenue-performance #pay-tv-and-cord-cutting #platforms-growth #advertising-monetization #profitability-and-cash-flow
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