Comcast broadband losses deepen as competition pressure core business
Oct 22 : Comcast lost more broadband customers than expected in the third quarter as fierce competition chipped away at its core business, while NBCUniversal benefited from gains in theatrical and streaming ahead of its planned spinoff next year.
- Broadband users decreased by 144,000 in the third quarter, the company said on Thursday. That is higher than the 116,800 losses estimated by analysts polled by FactSet and the 91,000 decrease reported in the year-ago period
CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less • The company is reportedly planning significant number of layoffs to restructure the connectivity business • Comcast's media businesses, including its studios, theme parks and Peacock streaming service, are set to separate from the company as part of the planned NBCUniversal spinoff by mid-2027 • "The Odyssey" was a bright spot for Universal Studios, becoming the highest-grossing film in its history and helping drive pre-tax profit up 18.6 per cent for the unit • The media division posted a 13 per cent increase in third-quarter revenue to $5.36 billion, driven by soccer World Cup programming and "Love Island USA" on Peacock • Comcast shares rose about 2 per cent in premarket trading • Peacock reported a quarterly pre-tax profit of $261 million, compared with a $217 million loss a year ago • NBCUniversal's theme park unit is seeing weaker demand in Orlando while geopolitical tensions continue to deter Chinese tourists from visiting Japan • The segment reported a 4.4 per cent decline in revenue to $2.60 billion, missing analysts' average estimate of $2.71 billion, according to data compiled by LSEG • Comcast reported adjusted profit of $1.07 per share, above the estimate of 98 cents per share
- The company is reportedly planning significant number of layoffs to restructure the connectivity business
- Comcast's media businesses, including its studios, theme parks and Peacock streaming service, are set to separate from the company as part of the planned NBCUniversal spinoff by mid-2027
- "The Odyssey" was a bright spot for Universal Studios, becoming the highest-grossing film in its history and helping drive pre-tax profit up 18.6 per cent for the unit
- The media division posted a 13 per cent increase in third-quarter revenue to $5.36 billion, driven by soccer World Cup programming and "Love Island USA" on Peacock
- Peacock reported a quarterly pre-tax profit of $261 million, compared with a $217 million loss a year ago
- NBCUniversal's theme park unit is seeing weaker demand in Orlando while geopolitical tensions continue to deter Chinese tourists from visiting Japan
- The segment reported a 4.4 per cent decline in revenue to $2.60 billion, missing analysts' average estimate of $2.71 billion, according to data compiled by LSEG
- Comcast reported adjusted profit of $1.07 per share, above the estimate of 98 cents per share
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