Communication Services Earnings Report — 2026-09-24 to 2026-11-08
Report generated: 2026-11-08 18:38:17 EST
Overview
Companies reported: 85 (2026-09-24 - 2026-11-08). The Communication Services sector delivered a mixed but generally positive earnings picture, driven primarily by a surge in political advertising revenue for broadcasters and robust growth in digital platforms leveraging AI integration. While major technology and telecom players faced margin pressure from aggressive capital expenditure programs for infrastructure, strong performance in entertainment attendance and strategic cost reductions helped offset headwinds for many operators. The results highlighted a divergence between companies benefiting from cyclical political spending and those navigating regulatory challenges or declining traditional revenue streams.
Leaderboard
Top 5 by Revenue Growth (YoY)
| # | Company | Ticker | Revenue Growth YoY | Revenue |
|---|---|---|---|---|
| 1 | Entravision Communications Corp. | EVC | 88.0% | $226.3 million |
| 2 | Liberty Global Ltd. | LBTYA | 59.1% | $1,920.6 million |
| 3 | Reddit Inc. | RDDT | 53.0% | $895 million |
| 4 | QuinStreet Inc. | QNST | 46.0% | $416.7 million |
| 5 | Crexendo Inc. | CXDO | 44.0% | $25.2 million |
Revenue growth for Entravision Communications Corp. (EVC) is derived from the reported surge to $226.3 million.
Top 5 by Net Income Growth (YoY)
| # | Company | Ticker | Net Income Growth YoY | Net Income |
|---|---|---|---|---|
| 1 | Roku, Inc. | ROKU | 639% | $183.3 million |
| 2 | IMAX Corp. | IMAX | 450% | $113.8 million |
| 3 | Nexstar Media Group Inc. | NXST | 284.6% | $250 million |
| 4 | Entravision Communications Corp. | EVC | n/a | $19.0 million |
| 5 | AMC Entertainment Holdings Inc. | AMC | n/a | $109.3 million |
Entravision and AMC reported a return to net income from a prior-year loss rather than a percentage growth rate.
Themes
- Political advertising cycles drove significant revenue spikes and full-year guidance upgrades for broadcasters, with Gray Media (GTN), Sinclair (SBGI), and E.W. Scripps (SSP) reporting record political ad revenues that offset declines in core advertising segments.
- Aggressive capital expenditure programs to fund AI infrastructure and network modernization pressured free cash flow for major tech and telecom players, evidenced by Alphabet (ALPHAB) doubling capex to $51.4 billion and Meta Platforms (META) projecting $135–$145 billion in annual spend.
- Share repurchase activity remained a primary capital allocation strategy across the sector, with companies like Netflix (NFLX), TKO Group (TKO), and Verizon (VERCOM) executing multi-billion dollar buyback programs to return value to shareholders.
- Cost reduction and restructuring initiatives were widespread, including workforce reductions at E.W. Scripps (SSP), Shenandoah Telecommunications (SHEN), and Shutterstock (SSTK), alongside targeted expense cuts to improve operating margins.
- Mergers and acquisitions activity intensified, featuring strategic moves such as DoorDash (DASH) acquiring Instacart, Comcast (CMCSA) completing the Versant separation, and Liberty Global (LBTYA) consolidating VodafoneZiggo.
- AI integration emerged as a key growth driver and cost efficiency tool, with companies like Reddit (RDDT), Twilio (TWLO), and Ziff Davis (ZD) citing AI platform investments and automation as central to their revenue and margin strategies.
- Debt refinancing and balance sheet deleveraging were critical priorities for telecom and media firms facing maturity walls, with AMC Entertainment (AMC), Gogo (GOGO), and Lumen Technologies (LUMN) successfully extending maturities or reducing leverage ratios.
- Content slate performance and live event attendance continued to dictate results for entertainment studios and venues, with strong box office and fan attendance driving gains for Live Nation (LYV), AMC (AMC), and Lionsgate (LION).
- Strategic pivots toward direct-to-consumer models and digital transformation were evident, with Roku (ROKU) expanding international platforms, Match Group (MTCH) focusing on user growth, and Zedge (ZDGE) monetizing AI data assets.
- Regulatory and litigation risks impacted financial results and strategic outlooks, with Meta Platforms (META) recording a $9.89 billion litigation charge and Nexstar (NXST) facing preliminary injunctions affecting merger synergies.
Market Outlook & Trends
- Political advertising revenue is expected to drive significant growth for broadcasters, with Gray Media (GTN) and Sinclair (SBGI) raising full-year guidance to reflect political revenue exceeding $630 million and $455 million respectively, while E.W. Scripps (SSP) anticipates $275 million in political ad revenue for the year.
- Demand for digital advertising and content platforms remains mixed, with Reddit (RDDT) and Magnite (MGNI) reporting strong double-digit growth driven by AI integration and CTV, whereas Cardlytics (CDLX) and Yelp (YELP) face continued headwinds leading to lowered guidance or flat revenue expectations.
- Telecom infrastructure and fiber expansion are key revenue drivers, evidenced by Shenandoah Telecommunications (SHEN) expanding its Glo Fiber footprint to cover 517,000 homes and Verizon (VERCOM) achieving record postpaid net additions, while Gogo (GOGO) sees accelerated equipment shipments and KVH (KVHI) reports 58% of service revenue from LEO migration.
- Entertainment sector demand is robust, with Live Nation (LYV) and AMC Entertainment (AMC) citing record attendance and box office performance driven by major film slates, while Cinemark (CNK) and Marcus Corp (MCS) report double-digit revenue growth in premium formats and admissions.
- Streaming and subscription services show divergent trends, with Netflix (NFLX) maintaining strong operating margins despite ad revenue delays, whereas Roku (ROKU) and Match Group (MTCH) focus on user growth and platform expansion ahead of strategic transactions or acquisitions.
- Cost reduction and operational efficiency are primary themes for the quarters ahead, as companies like Shutterstock (SSTK), Angi (ANGI), and E.W. Scripps (SSP) implement workforce reductions and restructuring programs to target $39 million to $100 million in annualized savings.
- Capital allocation strategies are shifting toward debt reduction and share returns, with companies like Gray Media (GTN), Nexstar (NXST), and Liberty Global (LBTYA) utilizing incremental cash flows to retire debt, while others like Ziff Davis (ZD) and Meta (META) continue aggressive share repurchase programs.
- M&A activity and strategic transactions are reshaping the landscape, with DoorDash (DASH) acquiring Instacart, Iridium (IRDM) nearing a merger with Rocket Lab, and Comcast (CMCSA) proceeding with the separation of NBCUniversal and Sky.
- Risks identified by management include litigation exposure for Meta (META) and Zillow (ZG), refinancing challenges for Cable One (CABO) and Teads (TEAD), and regulatory uncertainties impacting the TEGNA acquisition for Nexstar (NXST) and the Amazon transaction for Globalstar (GSAT).
- AI integration is a stated growth catalyst across multiple segments, with Twilio (TWLO), Alphabet (ALPHAB), and PodcastOne (PODC) highlighting AI-driven revenue opportunities, product launches, and content monetization strategies to offset traditional market headwinds.
Key Numbers
- Netflix (NFLX) reported Q3 revenue growth of 12% year-over-year to $12.9 billion, with operating income surging 37% to $4.5 billion and diluted EPS rising 49% to $0.87.
- Meta Platforms (META) posted Q3 revenue of $64.60 billion, a 26% year-over-year increase, while net income jumped 264% to $9.86 billion and diluted EPS rose 265% to $3.83.
- Comcast (CMCSA) saw consolidated revenue decline 6.1% year-over-year to $29.3 billion, though net income increased 3.5% to $3.4 billion; Adjusted EBITDA fell 5.8% to $9.1 billion.
- Verizon (VERCOM) achieved record Q3 Adjusted EBITDA of $13.8 billion, up 8.0% year-over-year with a margin of 40.2%, while consolidated net income rose 5.2% to $5.3 billion.
- Alphabet (ALPHAB) reported consolidated revenues of $127.6 billion, a 25% year-over-year increase driven by a 103% surge in Google Cloud to $30.7 billion, though diluted EPS declined to $2.12 due to an $8.7 billion net loss on equity securities.
- Fox Corporation (FOXA) recorded Q1 fiscal 2027 revenue of $4.57 billion, up 22% year-over-year, with net income rising to $943 million ($2.20 per share) and Adjusted EBITDA surging 54% to $1.64 billion.
- DoorDash (DASH) delivered Q3 revenue growth of 34% year-over-year to $4.6 billion, with GAAP net income surging 91% to $466 million and Adjusted EBITDA increasing 41% to $1.06 billion.
- Reddit (RDDT) posted Q3 revenue of $895 million, a 53% year-over-year increase, while net income rose 74% to $283 million and Adjusted EBITDA grew 70% to $402 million.
- Sirius XM (SIRI) reported consolidated revenue of $2.15 billion, a slight year-over-year decline, but net income increased 7% to $317 million and adjusted EBITDA grew 3% to $694 million with margin expansion to 32%.
- Match Group (MTCH) reduced diluted shares outstanding by 4% year-over-year and declared a $0.20 per share cash dividend, while Tinder Daily Active Users returned to year-over-year growth in September.
Outliers
- Gray Media (GTN) delivered the strongest report with a 30% revenue surge to $972 million and a return to net income driven by a 2,375% jump in political advertising.
- Reddit (RDDT) posted the second strongest results with revenue surging 53% to $895 million and adjusted EBITDA expanding 70% to $402 million.
- Comcast (CMCSA) issued one of the weakest reports as consolidated revenue fell 6.1% to $29.3 billion and free cash flow dropped 14.8% to $4.2 billion.
- Teads Holding Co (TEAD) reported the weakest performance with revenue declining 26% to $235.1 million, a widened net loss of $325.5 million, and the suspension of all forward guidance.
25 most recent Communication Services earnings
TEN Holdings — Third Quarter 2026 Earnings Summary
TEN HOLDINGS INC
Revenue increased 17.9% year-over-year to $640,000, driven by a 307.7% surge in professional and managed services revenue, though platform usage revenue fell 12.8% to $428,000. Net loss widened 87.9% to $3.734 million ($0.31 per share) due to an $1.8 million write-off of capitalized service contracts and $0.5 million in legal expenses; excluding these items, SG&A expenses decreased approximately 18%. Gross profit margin declined to 59.2% from 74.6% as cost of revenue rose 89.1% to $261,000, while the company successfully reduced total liabilities by 74% to $2.0 million and increased cash reserves to $3.5 million. Strategic outlook focuses on transitioning to a recurring SaaS model via the TEN platform, with plans for disciplined acquisitions, product expansion including AI and automation, and a $100 million universal shelf registration filed. Leadership changes include the appointment of Ian M. Lawson as Interim CFO effective September 30, 2026, and the relocation of headquarters to New York, New York.
Gogo Inc. — Third Quarter 2026 Earnings Summary
GOGO INC
Total revenue declined 5% YoY to $213.2 million, driven by a 10% drop in business aviation service revenue, while net loss widened to $3.2 million and Adjusted EBITDA fell 27% YoY to $41.0 million. Management reiterated 2026 guidance for $870–$895 million in revenue and $175–$185 million in Adjusted EBITDA, with litigation expense reduced to $18 million and Free Cash Flow guidance maintained at $65–$85 million. Strategic momentum accelerated with Gogo Galileo equipment shipments up 95% YoY and major OEM wins from Textron Aviation, Bombardier, and TransMedics, alongside a 10-year FCC spectrum renewal through 2036. Capital structure strengthened via a Term Loan B amendment extending maturity to October 2030, coupled with a commitment to reduce debt by $92 million cumulatively by end of 2027.
Telephone and Data Systems, Inc. — Third Quarter 2026 Earnings Summary
TELEPHONE & DATA SYSTEMS INC
Q3 2026 total operating revenues declined 1% to $306.7 million, while net income from continuing operations fell 26% to $29.6 million ($0.26 diluted EPS) compared to $40.2 million in the prior year period. Full-year 2026 guidance was lowered across the board for TDS Telecom, with revenue guidance reduced to $990–$1,010 million, Adjusted OIBDA to $280–$300 million, and capital expenditures increased to approximately $750 million. The company returned over $520 million to shareholders via share repurchases in 2026 and authorized an incremental $250 million repurchase plan, following the withdrawal of its proposal to acquire minority interest in Array. TDS Telecom expanded its fiber footprint by 76,000 addresses and added 17,000 residential net connections, while Array reaffirmed its full-year guidance and secured regulatory approval for remaining spectrum sales. Nine-month net income surged to $436.9 million from a $114.6 million loss in 2025, driven by a $566.5 million gain on license sales at Array, though free cash flow for the period worsened to $(472.8) million.
MSG Knickerbockers Corp. — Fiscal 2027 First Quarter Earnings Summary
MSG KNICKERBOCKERS CORP
Revenues increased 15% year-over-year to $45.5 million, driven by higher league distributions and merchandise sales following the 2025-26 NBA Championship, while operating loss narrowed 7% to $25.5 million. Net loss widened to $31.1 million ($1.29 per share) from $8.8 million ($0.37 per share) in the prior year period, primarily due to $3.6 million in spin-off transaction expenses. The Company completed the spin-off of its New York Rangers business on October 26, 2026, with fiscal 2027 Q1 consolidated results including the Rangers' financials. Balance sheet liquidity tightened with cash and cash equivalents declining to $40.0 million from $164.5 million, while total debt rose to $298.5 million and deferred revenue surged to $366.9 million. No specific forward-looking guidance or capital return announcements were provided in the summary.
The E.W. Scripps Company — Q3 2026 Earnings Summary
EW SCRIPPS CO
Q3 2026 revenue rose 3.6% to $545 million, driven by a 15% surge in Local Media revenue to $373 million (including $80.6 million in political ad revenue), while Scripps Networks revenue declined 14% to $173 million; year-to-date revenue fell 2.4% to $1.6 billion due to a $1.1 billion non-cash goodwill impairment charge. Adjusted EBITDA improved to $121.5 million in Q3 from $80.4 million in the prior-year quarter, though the company reported a $1.2 billion year-to-date loss; management expects $100 million in annual run-rate savings from its transformation plan to be implemented by year-end. Guidance projects Q4 2026 Local Media revenue growth in the low-to-mid 40% range and Scripps Networks revenue decline in the high single digits, with plans to utilize Q4 political ad revenue and cash to prepay at least $150 million of debt. The company reduced its workforce by approximately 20% in 2026 and is evaluating accretive M&A opportunities, while preferred stock dividends remain undeclared and unpaid, totaling $166 million as of September 30, 2026.
Gray Media — Third Quarter 2026 Earnings Summary
GRAY MEDIA INC
Total revenue surged 30% year-over-year to $972 million in Q3 2026, driven by a 2,375% increase in political advertising to $198 million, while core advertising revenue grew 1% to $358 million; net income turned positive at $78 million compared to a $10 million loss in Q3 2025, and Adjusted EBITDA nearly doubled to $319 million. Full-year 2026 total revenue guidance is raised to $3,695–$3,720 million, with political advertising expected to finish between $630–$640 million; Q4 2026 revenue is forecast at $1,115–$1,140 million, and management plans to use incremental political cash to reduce debt by $175–$200 million. Significant capital allocation activity occurred in late 2026, including the issuance of $750 million in new senior secured notes to refinance higher-cost debt and repay credit facilities, alongside a $25 million optional prepayment on Term Loan G and the completion of station acquisitions and swaps. The company's 2026 acquisitions contributed $66 million in total advertising revenue and $37 million in retransmission consent revenue for the quarter, while the portfolio expanded to cover 117 markets with 37% of US television households, supported by strong operational metrics including a 40% year-to-date Adjusted EBITDA growth.
Ziff Davis — Third Quarter 2026 Earnings Summary
ZIFF DAVIS INC
Total revenues declined 5.6% year-over-year to $289.3 million in Q3 2026, while operating results shifted from a $11.4 million income in Q3 2025 to a $33.6 million loss in Q3 2026, driven by $29.6 million in goodwill impairments and broader margin compression. Adjusted EBITDA fell 16.0% to $82.2 million and Adjusted net income dropped 15.0% to $48.3 million for the quarter, though Adjusted diluted EPS remained relatively stable at $1.39 compared to $1.40 in the prior year period. Significant capital return activity occurred with $92.0 million deployed for share repurchases in Q3 and $265 million total for the first nine months, reducing the share count by nearly 14%, alongside a $1.13 billion gain from the sale of the Connectivity business. Management confirmed results aligned with prior expectations despite a "challenging operating environment," citing sequential revenue growth and a continued strategy to pursue value-creating opportunities and unlock shareholder value.
PLAYSTUDIOS, Inc. — Third Quarter 2026 Earnings Summary
PLAYSTUDIOS INC
Consolidated revenue declined 15.1% year-over-year to $48.9 million, while net loss widened to $11.0 million from $9.1 million; however, consolidated AEBITDA improved to $10.0 million (20.4% margin) from $7.2 million (12.6% margin) in the prior year. The company discontinued two growth initiatives (Tetris Block Party and The Win Zone) and closed four studios, resulting in $15.9 million in combined goodwill and non-cash impairment charges, while Direct-to-consumer revenue surged 108% to $16.0 million. Management is not providing formal financial guidance due to secular headwinds in the social casino market but expects to realize $37.0 million to $39.0 million in annualized cost savings from the Renewal restructuring program. The company maintains $95.9 million in cash and has $44.6 million remaining in share repurchase authorization, with future growth opportunities to be evaluated only after establishing a more predictable operating base.
PodcastOne — Q2 2026 Earnings Summary
PODCASTONE INC
First-half 2026 revenue is projected at a record $31.5 million, with Adjusted EBITDA expected to reach $3.0 million, marking a 76% year-over-year increase; Q2 revenue and Adjusted EBITDA are forecast at $15.2 million and $1.4 million, respectively. The company acquired PodcastOne.AI and reported record network metrics in June 2026, including a No. 6 U.S. publisher ranking by Podtrac, over 1 billion monthly impressions, and approximately 6 million unique listeners. Management confirmed receipt of inbound strategic interest from multiple parties, prompting the Board to form a special committee and retain a financial advisor to evaluate potential transactions, though no assurance exists that a deal will be finalized. The company highlighted 750,000 hours of content primed for monetization via AI licensing and noted the global podcasting market is projected to reach $58.31 billion in 2026. GAAP net income reconciliation is unavailable due to the inability to reliably estimate purchase accounting adjustments, acquisition-related charges, and legal settlement reserves.
Cable One — Third Quarter 2026 Earnings Summary
CABLE ONE INC
Reported Q3 2026 total revenues of $332.2 million (down 11.7% YoY) and a net loss of $431.8 million compared to prior year net income of $86.5 million, driven primarily by $412.1 million in non-cash asset impairment charges and a $39.7 million fair value adjustment loss on the MBI put option. Adjusted EBITDA declined 20.8% YoY to $159.8 million, while operating cash flow fell 40.8% to $92.6 million; capital expenditures rose 8.6% to $77.9 million, resulting in Adjusted EBITDA less capex dropping 37.1% to $81.9 million. Management faces significant liquidity risks regarding debt maturities in 2027 and 2028 totaling over $3.5 billion, with no assurance of consummating necessary financing transactions; failure to address these maturities or cure defaults could necessitate a Chapter 11 bankruptcy filing. While the company holds $674.8 million in cash and cites improved residential data trends, it intends to coordinate the MBI acquisition closing with financing transactions and has indicated it may hold MBI separate from operations to mitigate refinancing risks.
Live Nation Entertainment — Third Quarter 2026 Earnings Summary
LIVE NATION ENTERTAINMENT INC
Consolidated revenue rose 19% year-over-year to $10.1 billion, while operating income and adjusted operating income increased 13% and 14% respectively to $892 million and $1.18 billion, driven by a 19% surge in global fan attendance to 61 million. Full-year 2026 guidance was reaffirmed with fan attendance expected to approach 180 million and double-digit adjusted operating income growth projected across all three segments, despite a $20 million reduction in the foreign exchange benefit estimate. International markets remain a primary growth engine, accounting for 60% of total fan growth and surpassing the U.S. in both concert attendance and sponsorship revenue year-to-date. Strategic capital deployment continues with $800 million directed toward venue expansion and improvement year-to-date, alongside a debt refinancing in October extending maturities to 2031 to support future growth.
NerdWallet — Third Quarter 2026 Earnings Summary
NERDWALLET INC
Total revenue grew 11% year-over-year to $239.6 million, driven by a 12% increase in the Consumer segment and 6% growth in SMB, though GAAP operating income and net income declined 44% and 43% respectively to $19.4 million and $14.9 million. Full-year 2026 guidance was adjusted downward, with GAAP operating income now projected at $56–$62 million and Adjusted EBITDA at $127–$133 million, while Q4 revenue is expected to decline 13% year-over-year to a midpoint of $197 million. Cash and cash equivalents decreased 39% to $73.5 million as of September 30, 2026, following $99.3 million in stock repurchases and $21.2 million in cash outflows for business combinations during the first nine months of the year. Revenue growth was supported by the inclusion of the College Finance acquisition and increased student loan volumes, partially offset by a $17.4 million decline in auto insurance revenue due to lower lead volume and continued organic search traffic pressures in the SMB segment.
Lionsgate Studios — Q2 Fiscal 2027 Earnings Summary
LIONSGATE STUDIOS CORP
Total revenue surged 41% year-over-year to $668.8 million, while operating income swung to a $29.1 million profit from a $46.0 million loss in the prior year quarter; adjusted OIBDA also improved significantly to $72.0 million from $14.1 million. Management reaffirmed confidence in the fiscal 2027 forecast for significant adjusted OIBDA growth and highlighted growing visibility into a continued growth trajectory for fiscal years 2028 and 2029. The company anticipates doubling scripted deliveries in fiscal 2027 relative to fiscal 2026 and continues to establish film tentpoles for the next three years, with a filmed entertainment backlog of $1.5 billion. The Starz Separation is complete, with licensing transactions now reflected in consolidated results, and leverage improved to 3.7x as of September 30, 2026.
Yelp Inc. — Third Quarter 2026 Earnings Summary
YELP INC
Net revenue decreased 1% year-over-year to $371 million, while other revenue grew 82% year-over-year to a record annual run rate of $136 million; net income and adjusted EBITDA declined 9% and 6% respectively compared to the prior year. Management updated 2026 guidance to a net revenue range of $1.455 billion to $1.460 billion and adjusted EBITDA guidance to $320 million to $325 million. The company repurchased $200.1 million of common stock during the first nine months of 2026 and secured a $75 million revolving credit facility, while cash and cash equivalents decreased to $119.8 million. Strategic focus continues on AI integration and data licensing growth, with the acquisition of Hatch and RepairPal driving significant increases in goodwill and intangible assets.
Entravision Communications — Third Quarter 2026 Earnings Summary
ENTRAVISION COMMUNICATIONS CORP
Consolidated revenue surged 88% year-over-year to $226.3 million in Q3 2026, while segment operating profit jumped 465% to $35.2 million, driving a return to net income of $19.0 million compared to a $9.7 million loss in the prior year. The Advertising Technology & Services (ATS) segment led growth with 133% revenue increase to $177.2 million, fueled by AI platform investments and expanded sales capacity, whereas the Media segment saw 10% revenue growth driven by political advertising and retransmission fees. The Board approved a quarterly cash dividend of $0.05 per share payable December 31, 2026, following $5.0 million in scheduled debt payments and $4.6 million in dividends paid during the quarter. No specific forward guidance or revenue targets were provided in the press release, which instead cited standard forward-looking statement disclaimers regarding risks and uncertainties. Strong operating cash flow of $16.1 million for the quarter was recorded alongside a significant reduction in non-cash impairments and restructuring costs that previously impacted 2025 results.
Cardlytics — Third Quarter 2026 Earnings Summary
CARDLYTICS INC
Revenue, billings, and adjusted contribution declined 30%, 32%, and 24% year-over-year respectively, while net loss narrowed 88% to $(8.9) million and adjusted EBITDA fell to $0.4 million. Q4 2026 guidance projects continued year-over-year declines in billings (22–29%), revenue (23–31%), and adjusted contribution (15–26%), with adjusted EBITDA expected to range from $(1.0) million to $2.0 million. Management highlighted improved efficiency with adjusted contribution margins rising to 59.0% of revenue and 33.9% of billings, alongside a strategic focus on building supply and growing the advertising base. The company completed the Bridg Sale in March 2026, resulting in discontinued operations presentation, a $13.9 million divestiture gain for the nine months ended September 30, 2026, and a reduction in cash reserves to $29.9 million.
Liberty Capital — Third Quarter 2026 Earnings Summary
LIBERTY CAPITAL CORP
Consolidated revenue rose 4% year-over-year to $267 million for the quarter, while operating income turned positive to $36 million compared to a $488 million loss in the prior year period; Adjusted OIBDA increased 10% to $101 million, though nine-month Adjusted OIBDA declined 7% to $290 million. Management declared an inaugural quarterly dividend of $0.375 per share and authorized a $100 million share repurchase program, while total debt decreased to $1,163 million and GCI leverage stood at 2.7x. The company expects to close the Quintillion acquisition shortly, with full-year 2026 net capital expenditures projected at $290 million, largely driven by hybrid fiber-coaxial network improvements in urban Alaska. Subsequent to the quarter, GCI raised $300 million in secured financing to retire all outstanding principal of its 4.750% Senior Notes due 2028, extending the nearest maturity to 2030, and amended its credit agreement to add a $270 million Term A-3 facility.
KVH Industries — Third Quarter 2026 Earnings Summary
KVH INDUSTRIES INC
Total revenue rose 35% YoY to $38.4 million and 14% QoQ to $38.4 million, while net loss narrowed significantly to $0.6 million ($0.03/share) from $6.9 million in Q3 2025; Non-GAAP adjusted EBITDA surged 188% YoY to $3.9 million. Full-year 2026 guidance was narrowed and raised, with revenue outlook adjusted to $137–143 million (previously $130–145 million) and Non-GAAP adjusted EBITDA raised to $13–15 million (previously $11–16 million). Strategic focus continues on LEO migration, which now comprises 58% of service revenue, alongside the launch of managed IT services and the "Link Live" content offering, though service gross margin dipped 200 basis points QoQ to 34%. The company completed a $15 million share repurchase program (buying 1.2 million shares for $10.7 million in Q3) and maintains a debt-free balance sheet with $50.7 million in cash, while pricing for Starlink plans is set to increase effective December 1, 2026.
IMAX Corporation — Third Quarter 2026 Earnings Summary
IMAX CORP
Total revenue surged 64% year-over-year to $174.6 million, while net income attributable to common shareholders jumped 450% to $113.8 million, driven by a gross margin expansion to 72.3% and adjusted EPS growth of 370% to $2.21. The company reported record global box office of $712 million (up 94% year-over-year) and highlighted a robust 2027 slate including *Dune: Part Three* and *Wandering Earth 3*, with management citing an "IMAX awakening" and accelerating sales activity. Financial strength was underscored by $641 million in available liquidity and $100.3 million in year-to-date free cash flow, alongside a share repurchase program extended through June 2027 with $237 million remaining in authority. Operational metrics showed a 110% revenue increase in Content Solutions versus a 28% rise in Technology Products and Services, though system installations slowed to 32 units in the quarter with a backlog of 409 systems.
USA TODAY Co. — Third Quarter 2026 Earnings Summary
USA TODAY CO INC
Total revenues declined 7.4% year-over-year to $519.2 million, while digital revenues reached $249.3 million (48.0% of total); the company reported a net loss of $4.6 million but achieved $36.6 million in Adjusted EBITDA. Full-year 2026 guidance indicates total revenues will decrease in the mid-single digits on a same-store basis, with Adjusted EBITDA, operating cash flow, and free cash flow expected to decline versus the prior year despite anticipated sequential improvements in Q4. Management implemented a $100 million annualized cost reduction program expected to drive significant margin expansion and sequential growth in Q4 2026, alongside plans for opportunistic share repurchases supported by a $50 million incremental debt facility amendment. Strategic transactions with Lee Enterprises were completed to acquire full ownership of TNI Partners and the Arizona Daily Star, while the company maintains $96.9 million available under its existing stock repurchase program and faces an Ad Tech litigation trial set for April 2027.
Globalstar — Third Quarter 2026 Earnings Summary
GLOBALSTAR INC
Q3 2026 total revenue declined 4% year-over-year to $70.9 million, driven by lower wholesale capacity and subscriber churn in Duplex and SPOT services, while Commercial IoT gross activations rose 25% year-over-year; year-to-date revenue increased 2% to $205.7 million. Net loss for Q3 2026 widened to $15.7 million from a $1.1 million net income in the prior year period, primarily due to higher interest expense and non-recurring revenue in the prior year; Adjusted EBITDA fell 19% to $30.3 million. The company has suspended all financial outlooks and future earnings calls pending the closing of its transaction with Amazon, which is expected to close in 2027 subject to regulatory approvals and HIBLEO-4 satellite milestones. Strategic progress includes the successful launch of HIBLEO-4 replacement satellites, FCC and German regulatory authorizations for the C-3 constellation, and the expansion of the Parsons government service agreement beyond the proof of concept phase. Cash and cash equivalents decreased to $329.9 million as of September 30, 2026, from $447.5 million at year-end 2025, while deferred revenue grew significantly to $1,212.9 million, reflecting strong backlog growth.
Playtika Holding Corp. — Q3 2026 Earnings Summary
PLAYTIKA HOLDING CORP
Total revenue declined 7.8% sequentially to $673.8 million, while Adjusted EBITDA rose 22.3% sequentially to $252.1 million, driven by a 5.2 percentage point expansion in Adjusted EBITDA margin to 37.4%. The company reaffirmed full-year 2026 guidance for revenue ($2.75–$2.85 billion) and Adjusted EBITDA ($750–$790 million), with management expecting results near the midpoint of both ranges. Strategic review concluded with a decisive confirmation that Playtika will remain an independent, publicly traded entity rather than pursuing a sale or merger. Direct-to-Consumer (DTC) revenue grew 31.4% year-over-year to $275.1 million, offsetting declines in legacy titles like Bingo Blitz (-18.2% YoY), while Average Revenue Per Daily Active User (ARPDAU) increased to $1.03. Capital allocation included $37.7 million in dividends over the nine-month period, with no share buybacks executed, while long-term debt decreased slightly to $2,370.3 million.
Teads Holding Co. — Third Quarter 2026 Earnings Summary
TEADS HOLDING CO
Revenue declined 26% year-over-year to $235.1 million for the quarter and 17% to $785.6 million for the nine months, while net loss widened significantly to $325.5 million (including a $272.4 million non-cash goodwill impairment) compared to $19.7 million in the prior year period. Adjusted EBITDA turned negative at $(8.1) million for the quarter, down 142% from $19.2 million in the prior year, and the company suspended all forward guidance, including full-year 2026 Adjusted EBITDA. Management is prioritizing cost structure optimization and balance sheet strengthening to address open internet headwinds, though early fourth-quarter trends show some improvement. Strategic growth remains focused on Connected TV, which grew 37% year-over-year to represent 12% of total Q3 revenue, alongside expanded partnerships and product launches like the new Teads Ad Manager evolution. The company faces liquidity risks requiring additional financing to service $657.2 million in total debt obligations and maintain compliance with financing covenants.
Sphere Entertainment Co. — Third Quarter 2026 Earnings Summary
SPHERE ENTERTAINMENT CO
Total revenue increased 4% to $274.3 million for the quarter and 18% to $974.3 million for the nine months, driven by a 36% revenue surge in the Sphere segment, while MSG Networks revenue declined 15% and 11% respectively due to subscriber losses. Adjusted operating income improved 8% to $39.2 million for the quarter and 50% to $200.1 million for the nine months, though the company reported a net loss of $176.0 million for the quarter and $216.4 million for the nine months, the latter including a $177.6 million non-cash goodwill impairment charge at MSG Networks. Management reaffirmed confidence in the Sphere segment's growth trajectory, with *The Wizard of Oz* surpassing $500 million in sales, and announced new residencies for Oprah Winfrey and John Mayer alongside plans for *The Rocky Horror Picture Show* to debut by March 2027. The company announced a new multi-year sponsorship agreement with Lyft, reduced total debt to $768.4 million from $830.4 million, and revised prior period financials to correct errors related to the allocation of deferred tax liabilities and goodwill impairment charges.
Nextdoor Holdings, Inc. — Third Quarter 2026 Earnings Summary
NEXTDOOR HOLDINGS INC
Revenue grew 14% year-over-year to $79 million in Q3 2026, while net loss narrowed to less than $1 million from $13 million in the prior year period; Adjusted EBITDA expanded to $10 million with a 13% margin, up from 6% year-over-year. Full-year 2026 revenue guidance remains $293 million to $295 million, with Q4 revenue projected between $78 million and $80 million and Adjusted EBITDA between $10 million and $11 million. Platform Weekly Active Users reached 24.5 million, marking a 14% year-over-year increase and the third consecutive quarter of sequential growth. The company is executing a share buyback program supported by $28 million in year-to-date operating cash flow and maintains a cash, cash equivalents, and marketable securities balance of $382 million.