All articles tagged with #broadband subscribers
Comcast exceeded Wall Street earnings estimates in Q3 despite losing broadband subscribers for the fourth consecutive quarter, driven by growth in mobile customers and streaming services like Peacock, while revenue declined slightly overall.
Charter shares plunged over 8% after the company's Chief Financial Officer, Jessica Fischer, stated that the company may lose broadband subscribers in the fourth quarter. The drop in subscribers in October, partly due to a dispute with Disney and higher interest rates, continued into November. Charter has invested billions in expanding its broadband coverage, but the housing market slowdown has impacted demand. Fischer remains optimistic, citing a potential rebound in the housing market and the inclusion of Disney+ in some Spectrum plans as drivers for subscriber growth.
Despite beating profit estimates, Comcast experienced a slip in high-speed broadband customers and a slump in NBCUniversal advertising revenue, causing shares to drop over 7%. However, the flagship streaming service, Peacock, added 4 million subscribers and saw a 64% increase in revenue. Comcast's theme parks division also reported record profits, driven by the popularity of Super Nintendo World. The company lost 18,000 broadband customers and 490,000 video subscribers as more Americans opt for streaming services. Despite the decline in subscribers, U.S. broadband revenue rose, and wireless revenue increased by 16%. The biopic "Oppenheimer" became the highest-grossing biopic of all time, but theatrical revenue fell due to last year's blockbuster hits. NBCUniversal's media revenue rose slightly, while advertising sales fell. Comcast generated $4 billion in free cash flow and returned $4.7 billion to shareholders.