Comcast reported a decrease of 12.5% in their first-quarter earnings, with a decline in cable business profits contributing to this drop and advertisement revenues from the NBCUniversal media channels also decreasing.
Comcast, which owns NBC, Peacock, and Universal Studios, reported a slight decrease in total revenue for the year, going from $30.06 billion to $29.89 billion. They posted net income of 89 cents per share. After accounting for costs associated with amortization and investments, their adjusted earnings were $1.09 per share.
In a public statement, Brian Roberts, CEO of Comcast, declared that the company is maintaining financial prudence amidst difficult conditions within the media sector. “Given our robust cash flow generation, strategic approach to investment, and the resilience of our multi-faceted operations,” he said, “I am optimistic that we are adequately prepared to adapt to changing circumstances and seize future prospects.
Similar to other competitors, Comcast is facing a shift in consumer preferences, moving from conventional media platforms like linear TV and classic cable, towards modern broadband and digital alternatives. This transition poses challenges for Comcast not just because it manages numerous traditional media networks, but also because a significant portion of its income comes from what’s known as “connectivity” operations, which encompass cable TV distribution.
During the specified timeframe, Comcast reported a decline of 199,000 residential broadband customers, indicating the fierce competition in this sector and also a loss of 427,000 cable TV subscribers. On a positive note, revenue from their operations encompassing NBCUniversal grew by approximately 1% to reach $6.44 billion. However, domestic advertising revenue dipped around 6.8% during the quarter.
NBCUniversal experienced a steady progression in its Peacock streaming service, as revenue jumped by 16% and operational losses for the quarter decreased significantly to $215 million, contrasting the loss of $639 million during the same period last year. The Peacock platform currently boasts 41 million subscribers who have opted for a paid subscription, an increase from the 36 million subscribers reported at the end of 2024.
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2025-04-24 14:46