T-Mobile/Sprint got its final OK, as California Public Utilities Commissioners voted 5-0 Thursday for a revised proposal that reasserted the agency’s authority to review the deal and adjusted some conditions (see 2004150058). The Utility Reform Network (TURN) said it's disappointed the CPUC didn’t punish carriers for closing their deal two weeks before the scheduled vote.
One thing has changed since the COVID-19 lockdown started -- it’s much easier to explain to electric cooperatives why people need fiber connections at home, said Conexon partner Jonathan Chambers during a Wednesday Broadband Breakfast webinar. “Now all the discussions are about how,” he said. “I don’t expect to have to go back to the why.”
T-Mobile/Sprint got its final OK, as the California Public Utilities Commission voted 5-0 Thursday for a revised proposal that reasserted the agency’s authority to review the deal while adjusting some conditions.
Roku pulled back its 2020 forecast, citing economic uncertainties due to COVID-19. It expects Q1 revenue to be slightly higher than projected due to effects of sheltering at home, with other metrics generally in line with the prior outlook. “While we believe that our offerings to consumers, content providers and advertisers will enable our Company to deliver value in these uncertain times," there are "wider business and consumer impacts, as well as the duration of the pandemic,” said Chief Financial Officer Steve Louden Monday. Roku expects Q1 revenue of $307 million-$317 million vs. a midpoint outlook of $305 million in February's shareholder letter. The streaming media provider estimated it had 39.8 million active accounts March 31, a net increase of nearly 3 million since Dec. 31. Streaming hours will be 13.2 billion, a 49% year-to-year bump, it said. In early Q1, Roku completed the rollout of its “Are you still watching” feature, which exits video playback after long periods of user inactivity, a feature that will moderate streaming hour growth, the company noted. CEO Anthony Wood said Roku has been working with advertisers to help update their plans to reflect new viewing patterns and adjust their overall marketing mix, “which has been affected by social distancing.” Wood expects some marketers to pause or reduce ad spending near term. Tuesday, Pivotal Research raised its 2020 net new active accounts forecast to 11.5 million from 10 million and sliced platform monthly revenue per average active accounts from 21% growth to a 2% decline “to attempt to account for what appears to [be] 40-50% declines in on-line video CPMs,” analyst Jeffrey Wlodarczak wrote investors. The combination drove a reduction in Pivotal's 2020 revenue growth forecast from 40% to 23%. The company's path to profitability is "unclear," as it looks to navigate "a likely recession while expanding its workforce to support its next leg of growth," Wedbush's Michael Pachter wrote investors. It will take time to achieve profitability in international markets, said the analyst, "while declining advertising demand puts the current year at risk." Roku's Q1 report is May 7. The stock closed 10.3% higher Tuesday at $106.53.
Roku pulled back its 2020 forecast, citing economic uncertainties due to COVID-19. It expects Q1 revenue to be slightly higher than projected due to effects of sheltering at home, with other metrics generally in line with the prior outlook. “While we believe that our offerings to consumers, content providers and advertisers will enable our Company to deliver value in these uncertain times," there are "wider business and consumer impacts, as well as the duration of the pandemic,” said Chief Financial Officer Steve Louden Monday. Roku expects Q1 revenue of $307 million-$317 million vs. a midpoint outlook of $305 million in February's shareholder letter. The streaming media provider estimated it had 39.8 million active accounts March 31, a net increase of nearly 3 million since Dec. 31. Streaming hours will be 13.2 billion, a 49% year-to-year bump, it said. In early Q1, Roku completed the rollout of its “Are you still watching” feature, which exits video playback after long periods of user inactivity, a feature that will moderate streaming hour growth, the company noted. CEO Anthony Wood said Roku has been working with advertisers to help update their plans to reflect new viewing patterns and adjust their overall marketing mix, “which has been affected by social distancing.” Wood expects some marketers to pause or reduce ad spending near term. Tuesday, Pivotal Research raised its 2020 net new active accounts forecast to 11.5 million from 10 million and sliced platform monthly revenue per average active accounts from 21% growth to a 2% decline “to attempt to account for what appears to [be] 40-50% declines in on-line video CPMs,” analyst Jeffrey Wlodarczak wrote investors. The combination drove a reduction in Pivotal's 2020 revenue growth forecast from 40% to 23%. The company's path to profitability is "unclear," as it looks to navigate "a likely recession while expanding its workforce to support its next leg of growth," Wedbush's Michael Pachter wrote investors. It will take time to achieve profitability in international markets, said the analyst, "while declining advertising demand puts the current year at risk." Roku's Q1 report is May 7. The stock closed 10.3% higher Tuesday at $106.53.
Roku pulled back its 2020 financial outlook, citing economic uncertainties due to the COVID-19 pandemic. It expects Q1 revenue to be slightly higher than projected due to effects of sheltering at home that began late in the quarter, with other metrics generally in line with the prior outlook.
Best Buy temporarily suspended its recycling and trade-in program at stores where it’s operating curbside service during the COVID-19 outbreak. The retailer notes in its position statement on sustainability that to date it has collected more than 2 billion pounds of electronics and appliances as part of its recycling efforts. In a Thursday blog post, Best Buy broke out a category of eco-friendly products said to promote sustainability as part of a wider initiative toward reducing carbon emissions and sourcing renewable energy. Among the products it identified as sustainable were solar panels and kits, power stations and headlamps; electric bikes, scooters and hoverboards that don’t use fuel; smart thermostats, shower fixtures and bidets that conserve energy and natural resources; and Energy Star-certified products. By fixing “everything from computers to major appliances,” Best Buy helps extend the life of products, it said, and it offers customers gift cards and discounts as a reward for responsibly managing their old tech products through trade-in. Last year, the tech retailer set a target to reduce its carbon footprint by 75% by 2030 from a 2009 baseline.
The Commerce Department emailed us Friday it "appreciates the productive ongoing collaboration with the [FCC] and other Federal agencies on orbital debris requirements. Work, such as that through the Commerce-led Interagency Working Group ... on Commercial Orbital Debris Requirements, will support responsible U.S. investment, innovation, and operation in space." It said it will review the FCC's orbital debris draft order put out Thursday (see 2004020062). Commerce previously suggested the agency pause the rules update proceeding.
While the Commerce Department had suggested the FCC pause its orbital debris rules update (see 1904080033), there's no time to wait, according to the 119-page draft order the commission released Thursday in advance of the April 23 meeting. The April agenda also has media items on increasing video description requirements and relaxing interference restrictions for low-power FM.
COVID-19 could reprioritize two California telecom funds. The California Public Utilities Commission sought comment Thursday on how it can respond to the pandemic using the California Advanced Services Fund (CASF). In prehearing statements due that day on a possible overhaul to California LifeLine that could shift support to broadband, some urged focus on increasing participation of especially vulnerable low-income residents.