Comcast beats estimates despite slowing broadband growth, higher Peacock losses
Publishing timestamp: 2023-04-27 16:08:22
Summary
Comcast's Q1 earnings beat expectations, but the company saw a drop in residential broadband subscribers and growing losses in its Peacock streaming service. The company returned $3.2 billion to shareholders and its Xfinity mobile business grew, but it lost 614,000 cable TV subscribers. The company's new reporting segments group its broadband, cable TV, and wireless services with its U.K.-based Sky to form a "connectivity and platforms" segment, while its media business revenue dropped about 20% due to the lack of major sporting events. Peacock subscribers grew 60% YoY to 22 million, but the streaming service had $704 million in losses. NBCUniversal's film segment got a boost from "Puss in Boots: Last Wish" and "M3GAN," and the company's theme park segment saw revenue increase by 25%.
Sentiment: MIXED
Keywords: breaking news: earnings, comcast corp, entertainment, breaking news: business, business, verizon communications inc, paramount global, media, earnings, business news,
Source: https://www.cnbc.com/2023/04/27/comcast-cmcsa-q1-2023-earnings-.html