Comcast sees Q1 profit dip on cable, advertising income falls
Comcast said that the net result of the first quarter fell by 12.5%, because the turnover fell from the base of the basic cable company and advertising income from his NBCUIVERSAL Revenue Networks fell.
The Philadelphia owner of NBC, Peacock and the Universal Movie Studio said that the total turnover fell slightly to $ 29.89 billion, compared to $ 30.06 billion in the period of the year. The net result was 89 cents per share. Profit, adjusted for costs linked to amortization and investments, came $ 1.09 per share.
In a statement, Comcast CEO Brian Roberts said that the company showed financial discipline during a challenging environment for the media industry. “With our considerable generation of free cash flow, disciplined approach to capitulation assignment and the power of our diversified companies, I am convinced that we are well positioned to navigate in a developing environment and to record future opportunities,” he said.
Just like its rivals, Comcast is struggling with the migration of consumers away from traditional media platforms, such as linear TV and traditional cable, to new broadband and digital points of sale. For Comcast, such dynamics are not only difficult because it operates various large traditional media networks, but also because it derives most of its income from the so -called “connectivity” activities, including the distribution of cable TV.
Comcast said that it lost 199,000 domestic broadband customers during the period, a sign of competition in that company, as well as 427,000 cable TV customers. In the meantime, the turnover increased from the activities that include NBCUIversal, around 1% to $ 6.44 billion. American advertisement changed by around 6.8%during the quarter.
NBCU saw a continued momentum of the Peacock Streaming Service, where the turnover increased by 16% and the quarterly loss compared to the activities limited to $ 215 million, compared to a loss of $ 639 million in the period of the year. Peacock had 41 million paid subscribers compared to 36 million at the end of 2024.
