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Summary
- Television operator Dish Network Corp recorded US$4.50 billion in revenue in Q1.
- Fox Corp. registered a net income of US$582 million in Q1 of 2021.
- Wireless service provider Verizon Communications’ revenue rose 2.4% YoY to US$7.8 bn.
Companies engaged in the communication sector provide media and entertainment content and internet services through broadband, wireless, mobile phones, etc. Those involved in building the infrastructure for such services also fall in this category.
The sector played a vital role during the pandemic, bringing news and entertainment content to homes and relieving stress. They also helped in disseminating information about the covid infection to help reduce its spread in the population.
We explore three communication stocks to understand how they performed and their plans.
Dish Network Corp. (NASDAQ:DISH)
Dish Network Corporation is a DTH service provider headquartered in Colorado. It has over 8.89 million customers. It also operates wireless mobile services.
The stock grew more than 22% over the past year. Its closing price on June 9 was US$40.67.
In Q1 of 2021, Dish logged revenue of US$4.5 billion against US$3.2 billion in the corresponding period last year. As a result, diluted EPS rose from US$0.13 to US$0.99 YoY.
Dish has a market capitalization of around 21 billion.
Also read: AT&T To Combine Warner Media With Discovery In US$43B Deal
Fox Corporation (NASDAQ:FOX)
Fox Corp. is a media and entertainment giant based in New York. In 2019, Walt Disney Co had changed the original name from 21st Century Fox to Fox Corporation after purchasing it.
Billionaire business Rupert Murdock's family trust still owns around 36% stake in the company.
The stock closed at US$36.03 on June 9. It gained around 21% in the past year.
Fox’s market capitalization is around US$20.5 billion.
In Q1 of 2021, Fox logged a net income of US$582 million against US$90 million in the corresponding period of 2020. Revenues were down from US$3.44 billion to US$3.22 billion.
EBITDA declined from US$920 million to US899 million.
Also read: Disney Hits 103 Million Subscribers in Q2, Revenues Down 13%
Verizon Communications (NYSE:VZ)
Verizon Communications is a telecommunication conglomerate headquartered in Delaware. It has operations across the globe, including the United States.
The stock closed at US$57.05 on June 9. The stock saw a marginal decline of 1.7% in the past year.
Verizon’s market cap is around US$236 billion.
It clocked revenue of US$7.8 billion and a net income of US$5.4 billion in the first quarter, a YoY increase of 2.4% and 25.4%, respectively. In addition, revenues from operations rose by 4% YoY.
Adjusted EBITDA increased from US$11.9 billion to US$12.2 billion.
It added 156,000 post-paid and 47,000 phone internet connections during the period.
Also read: 2 Active Stocks On NYSE: AMC Entertainment, GameStop
