Comcast Beats Q3 Estimates As Mobile Growth Offsets Broadband Losses

Benzinga

Comcast beat Q3 earnings expectations with $1.12 per share on $31.2 billion in revenue, despite a continued decline in broadband subscribers. Growth came from mobile, theme parks, and film revenue, while NBCUniversal’s new NBA media rights deal is set to boost Peacock’s streaming presence.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Comcast beat third-quarter earnings and revenue estimates despite losing broadband customers,

00:06according to CNBC. The collaborate reported adjusted earnings of $1.12 per share

00:11on $31.2 billion in revenue, meeting analysts' expectations. Comcast's total revenue fell

00:17nearly 3% year-over-year to $31.2 billion. Comcast lost 104,000 broadband customers in the quarter,

00:23marking its fourth straight decline and bringing its total to about $31.4 million.

00:28Comcast is pursuing broadband growth initiatives amid 5G competition,

00:32plans to rely more on connectivity following its first-hand transaction and leadership transition.

00:37Comcast added a record 414,000 mobile customers in the quarter, reaching 8.9 million lines

00:43as it leaned on mobile growth amid slowing broadband gains. NBCUniversal's new NBA Radio Rights deal

00:49brought basketball back to NBC and Peacock, expecting to boost the streaming platform.

00:54Film revenue rose 6% to $3 billion, while theme park revenue jumped 19% to $2.72 billion,

01:01finding the opening of Epic Universe.

01:03For all things money, visit Benzinga.com.

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