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Comcast reported better-than-expected Q3 earnings, with a rise in profit driven by its theme parks and wireless businesses. The company's streaming service, Peacock, also saw an increase in subscribers, reaching a total of 28 million. However, Comcast experienced a surprise loss in broadband subscribers, leading to a slump in shares.
Peacock adds four million paid subscriptions, up to 28 million https://t.co/EEeAMBTZNS https://t.co/tTbAKXgzYS
Comcast Unexpectedly Drops Broadband Subscribers As Peacock Losses Narrow https://t.co/KmBdbjY5Kg
Comcast posts surprise broadband customer loss, results top estimates https://t.co/1rFxwdvEsI https://t.co/OeRwRq9mFl
Comcast posts surprise broadband customer loss, results top estimates https://t.co/mmO9LJN9uB https://t.co/gbzPMuOej2
Comcast Unexpectedly Drops Broadband Subscribers As Peacock Losses Narrow https://t.co/9PiZ7rEds5
Comcast stock drops after company reports surprise loss in broadband subscribers https://t.co/Fl82PNYs26 by @allie_canal
Comcast investors focus on lack of broadband growth as shares slump https://t.co/05rU4dlx7g
Comcast investors focus on lack of broadband growth as shares slump https://t.co/9ur2CArOGc
Comcast shares now down pre-market. Both revenue and profit beat estimates, but broadband growth again non-existent and NBCU advertising revenue down more than 8 percent in the quarter. Theatrical also fell 25% despite Oppenheimer being a huge hit.
Comcast $CMCSA 23Q3 EBITDA +5.1%, EPS +12.5% Connectivity & Platforms EBITDA +2.6% Domestic resi. BB subs. loss -17k, revenue +3.8% Content & Experiences EBITDA +10.2%, incl: Media +6.5% ($723m, after Peacock loss -$565m) Studios -22.2% Theme Parks +20.0% (Orlando revenue fell) https://t.co/AzEC4ZBC1G
Peacock Grows to 28 Million Subscribers, Parks Profit Rises as Comcast Beats Wall Street Expectations in Q3 https://t.co/gyVcg0LuCt
Comcast Swings to Profit in Q3 on Theme Parks, Wireless, While Peacock Losses Narrow https://t.co/EDeJAqXueY