⁍ Comcast gained 633,000 broadband subscribers in the quarter, beating analysts’ average estimate of 534,000 net additions.


⁍ The company’s NBCUniversal segment reported revenue of $6.72 billion, down 18.9% from a year earlier.


⁍ Comcast lost 273,000 video customers in the quarter, fewer than the 466,000 loss estimated by FactSet.


– Pandemic H1N1 has hit Comcast hard, wiping out movie ticket sales and hurting the company’s filmed entertainment business. But the virus has also caused a boost in demand for broadband and streaming video, Reuters reports. Comcast gained 633,000 broadband subscribers in the third quarter, beating analysts’ average estimate of 534,000 net additions. The company’s NBCUniversal segment, which includes NBC Entertainment and Universal Pictures, reported revenue of $6.72 billion, down 18.9% from a year earlier. Revenue at the filmed entertainment unit fell 25% from a year earlier due to shuttered movie theaters. Theme park revenue plummeted 80.9%. The company said Thursday that it expects its theme park business to break even at some point in 2021, regardless of whether its California park reopens. Comcast said it had 22 million sign-ups to its recently-launched Peacock streaming service. Broadcast TV advertising revenue was down 11.5% and ad revenue at Comcast’s cable networks fell 2.1%— declines the company attributed to a lack of new content. Comcast lost 273,000 video customers in the quarter, fewer than the 466,000 loss estimated by FactSet. The company reported adjusted earnings per share of 65 cents, down 17.7% from the same period a year ago, but beating the Wall Street consensus estimate of 52 cents, according to IBES data from Refinitiv. It reported third-quarter revenue of $25.53 billion. Analysts expected revenue of $24.74 billion.



Source: https://www.reuters.com/article/comcast-results/update-1-comcast-beats-revenue-expectations-on-broadband-growth-idUSL4N2HK3WC