Comcast Broadband Losses Deepen as Competition Pressure Core Business
Broadband users fell by 144,000, while Peacock and Universal Studios lifted results ahead of Comcast's planned NBCUniversal spinoff.
- On Thursday, Comcast reported broadband users decreased by 144,000 in the third quarter, exceeding analyst expectations of 116,800 losses. Third-quarter revenue fell 6.1% to nearly $29.3 billion as fierce competition eroded the company's core connectivity business.
- While connectivity struggled, NBCUniversal benefited from gains in theatrical and streaming, with Peacock reporting a quarterly pre-tax profit of $261 million. Universal Studios' "The Odyssey" drove pre-tax profit up 18.6 per cent for the unit.
- Media revenue rose 13 per cent to $5.35 billion as Peacock subscribers grew to 48 million, up from 41 million a year earlier. However, the theme park unit reported a 4.4 per cent decline in revenue to $2.60 billion amid weaker demand in Orlando.
- Comcast reportedly plans significant layoffs to restructure the connectivity business ahead of the planned NBCUniversal spinoff by mid-2027. The company previously separated from Versant, a TV-focused spinoff managing multiple cable assets.
- The Philadelphia media conglomerate reported adjusted profit of $1.07 per share, beating the 98 cent estimate and signaling investor confidence. Comcast shares rose about 2 per cent in premarket trading following the earnings announcement.
22 Articles
22 Articles
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Comcast continued to lose residential broadband and TV customers by subscription in the United States during the third quarter, increasing pressure on its consolidated operational performance. Exclusive material for subscribers. To have full access, access the link of the material and register.
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Odysseus and his intrepid crew sailed through Comcast’s latest quarter as Universal surpassed $5 billion at the global box office, led by the The Odyssey, now Universal’s highest-grossing film of all time. The Christopher Nolan smash based on Homer’s epic has grossed nearly $1.9 billion worldwide since its July opening and set all sort of […]
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