Comcast beats earnings estimates even as it sheds more broadband subscribers

beat first-quarter earnings expectations on Thursday, as broadband drove revenue even as the company and its peers have seen customer growth slow.Earnings per share: $1.04 adjusted vs. 99 cents expectedFor the quarter ended March 31, net income rose 0.6% to $3.86 billion, or 97 cents a share, compared with $3.83 billion, or 91 cents a share, a year earlier. Adjusted earnings before interest, taxes, depreciation and amortization slid 0.6% to roughly $9.4 billion.

Comcast's wireless business saw a 21% increase in customers during the quarter to 6.9 million total lines. The company lost 487,000 cable TV customers during the quarter as consumers continued to cut the cord in favor of streaming. NBCUniversal got a boost from Peacock. The service added 3 million paid subscribers during the quarter, bringing its total number of customers to 34 million. Revenue for the streamer rose 54% to $1.1 billion compared to the same period last year. While domestic advertising was flat during the quarter, the company saw its domestic distribution revenue increase, driven by the growth at Peacock.

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Comcast is set to report earnings before the bell. Here's what Wall Street expectsComcast will report first-quarter earnings before the bell. Wall Street will be paying attention to broadband and Peacock subscriber numbers.
Fonte: NBCLA - 🏆 319. / 59 Leggi di più »