Communications Services Up After Fox, Disney Earnings -- Communications Services Roundup

Communications services companies rose, amid strong earnings.

Shares of Fox rallied, testing all-time highs, after the cable-television and streaming company, parent of Fox News and the Fox broadcast network, reported higher revenue in the latest quarter, lifted by advertising sales. Fox has common ownership with News Corp., the parent of this newswire.

Similarly, shares of Walt Disney surged in after-hours trading after the entertainment conglomerate posted stronger-than-anticipated subscriber growth for its Disney+ streaming service. Among rival broadcasters, shares of ViacomCBS rose sharply.

Barry Diller's media group is stopping print circulation of six of the magazines it acquired when it bought Meredith Corp. last year, including Entertainment Weekly and InStyle, part of an effort to turn these publications into digital-only brands.

In the first major smart-phone launch of the year, Samsung Electronics introduced three versions of its flagship Galaxy S22 devices on Wednesday, with prices kept at the same level last year, despite inflationary pressures.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

02-09-22 1722ET