As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at broadcasting stocks, starting with FOX (NASDAQ: FOXA).

Broadcasting companies have been facing secular headwinds in the form of consumers abandoning traditional television and radio in favor of streaming services. As a result, many broadcasting companies have evolved by forming distribution agreements with major streaming platforms so they can get in on part of the action, but will these subscription revenues be as high quality and high margin as their legacy revenues? Only time will tell which of these broadcasters will survive the sea changes of technological advancement and fragmenting consumer attention.

The 7 broadcasting stocks we track reported a mixed Q3. As a group, revenues were in line with analysts’ consensus estimates while next quarter’s revenue guidance was 0.6% below.

Luckily, broadcasting stocks have performed well with share prices up 17% on average since the latest earnings results.

Best Q3: FOX (NASDAQ: FOXA)

Founded in 1915, Fox (NASDAQ: FOXA) is a diversified media company, operating prominent cable news, television broadcasting, and digital media platforms.

FOX reported revenues of $3.74 billion, up 4.9% year on year. This print exceeded analysts’ expectations by 4.6%. Overall, it was a stunning quarter for the company with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

FOX scored the biggest analyst estimates beat and fastest revenue growth of the whole group. Unsurprisingly, the stock is up 14.5% since reporting and currently trades at $69.60.

Is now the time to buy FOX? Access our full analysis of the earnings results here, it’s free for active Edge members.

AMC Networks (NASDAQ: AMCX)

Originally the joint-venture of four cable television companies, AMC Networks (NASDAQ: AMCX) is a broadcaster producing a diverse range of television shows and movies.

AMC Networks reported revenues of $561.7 million, down 6.3% year on year, outperforming analysts’ expectations by 2.7%. The business had a strong quarter with a solid beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 24.1% since reporting. It currently trades at $9.00.

Is now the time to buy AMC Networks? Access our full analysis of the earnings results here, it’s free for active Edge members.

Slowest Q3: Paramount (NASDAQ: PSKY)

Owner of Spongebob Squarepants and formerly known as ViacomCBS, Paramount Global (NASDAQ: PARA) is a major media conglomerate offering television, film production, and digital content across various global platforms.

Paramount reported revenues of $6.70 billion, down 3.4% year on year, falling short of analysts’ expectations by 5.6%. It was a softer quarter as it posted a miss of analysts’ Filmed Entertainment revenue estimates and a miss of analysts’ TV Media revenue estimates.

Paramount delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 11.7% since the results and currently trades at $13.43.

Read our full analysis of Paramount’s results here.

iHeartMedia (NASDAQ: IHRT)

Occasionally featuring celebrity hosts like Ryan Seacrest on its shows, iHeartMedia (NASDAQ: IHRT) is a leading multimedia company renowned for its extensive network of radio stations, digital platforms, and live events across the globe.

iHeartMedia reported revenues of $997 million, down 1.1% year on year. This print beat analysts’ expectations by 1.9%. Aside from that, it was a softer quarter as it recorded a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EPS estimates.

The stock is down 16.3% since reporting and currently trades at $3.72.

Read our full, actionable report on iHeartMedia here, it’s free for active Edge members.

E.W. Scripps (NASDAQ: SSP)

Founded as a chain of daily newspapers, E.W. Scripps (NASDAQ: SSP) is a diversified media enterprise operating a range of local television stations, national networks, and digital media platforms.

E.W. Scripps reported revenues of $525.9 million, down 18.6% year on year. This number met analysts’ expectations. More broadly, it was a satisfactory quarter as it also produced a solid beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ EPS estimates.

The stock is up 112% since reporting and currently trades at $4.35.

Read our full, actionable report on E.W. Scripps here, it’s free for active Edge members.

Market Update

The Fed’s interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump’s presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025.

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