causing concern for the entire cable industry and sending relate
Comcast saw shares tumble 6.19% on Thursday in its worst day of the year to see prices hit their lowest level since July 2020, despite the telecoms company beating on both ends with EPS of $0.86 on revenues of $31.01bn.
Broadband subscribers continue to slow. Comcast reported 262k additions, but its earnings call revealed that number is actually 180k if you exclude those that converted after enjoying a free service during covid – so basically less people actually signed up.
There is good news though. Its Peacock streaming service saw revenue surge 44% to 13m, helped by a sign-up rush related to the Winter Olympics and the Super Bowl. Its cable TV segment, however, lost a record number of subscribers, causing concern for the entire cable industry and sending related companies lower in sympathy.
Broadband subscribers continue to slow. Comcast reported 262k additions, but its earnings call revealed that number is actually 180k if you exclude those that converted after enjoying a free service during covid – so basically less people actually signed up.
There is good news though. Its Peacock streaming service saw revenue surge 44% to 13m, helped by a sign-up rush related to the Winter Olympics and the Super Bowl. Its cable TV segment, however, lost a record number of subscribers, causing concern for the entire cable industry and sending related companies lower in sympathy.