Comcast beats Q1 expectations, but loses broadband customers

From CNBC: 2025-04-24 07:31:00

Comcast exceeded first-quarter expectations despite losing 199,000 domestic broadband customers due to heightened competition from alternative home internet options like 5G. Shares fell 3% in premarket trading. The mobile business saw a 16% revenue increase and added 323,000 lines. Comcast reported 427,000 cable TV customer losses and adjusted earnings per share of $1.09.

Net income for Comcast was down 12.5% to $3.38 billion, with adjusted earnings before interest, taxes, depreciation, and amortization up nearly 2% to $9.53 billion. Revenue slightly decreased to $29.89 billion, driven by growth businesses like mobile and Peacock. The media segment saw a 1% revenue increase to $6.44 billion, with Peacock gaining 41 million paid subscribers.

Competitors like Disney and Warner Bros. Discovery have seen streaming platforms reach profitability by focusing on ad-supported models and limiting password sharing. NBCUniversal’s theme parks revenue dropped 5% to $1.88 billion due to lower guest attendance during the Los Angeles wildfires. The company is preparing for the opening of Universal Epic Universe in May and Universal Horror Unleashed in Las Vegas in August.



Read more at CNBC: Comcast (CMCSA) earnings Q1 2025