Comcast Thursday, estimates of the fourth quarter of Wall Street exceeded the losses of larger and planned broadband subscribers and stagnation of paid subscribers for its streaming service, Peacock.
Wall Street was particularly focused on large -band companies of cable companies, which still gain high income and profits, but have been in the midst of a customer growth crisis due to the increased competition of wireless businesses, among other factors.
At the same time, streaming was at the top of the street. Although profitability is now considered the key measure of success, investors have Take note of the additions of recent subscribers by major players since the introduction of cheaper levels and supported by advertising.
Comcast reported on Thursday that he had lost 139,000 residential high speed customers during the fourth quarter Telegraphy in December during a conference on investors.
Comcast President Mike Cavanagh, Thursday's investor call said that large -band losses were “disappointing and worse than what we indicated in early December”.
The company also pointed out on Thursday that Peacock had 36 million subscribers in the last quarter, from year to year, but from the previous period. Wall Street was looking for paid total subscribers of 37.56 million, according to Streetaccount estimates.
Comcast actions fell 11% on Thursday.
Here's how the The company played For the quarter, compared to the average estimates of LSEG analysts:
- Profit by action: 96 cents adjusted vs 86 cents expected
- Income: 31.92 billion dollars against $ 31.64 billion expected
For the closed quarter on December 31, the net profit attributable to Comcast increased by around 47% to $ 4.78 billion, or $ 1.24 per share, against $ 3.26 billion, or 81 cents per share, a year earlier.
Adjustment for occasional elements, including the interests of interest and the value of certain assets, Comcast declared a profit per share of 96 cents for the period.
The profits adjusted before interest, taxes, depreciation and damping increased by approximately 10% to 8.81 billion dollars.
In addition to higher high speed income, overall Comcast income increased by 2% to $ 31.92 billion, thanks to an increase in segments, including its mobile business, the film studio and income growth at Streaming Service Peacock. During the fourth quarter of 2023, Comcast declared a turnover of $ 31.25 billion.
Despite the to slow down In the growth of wide -band customers in the cable industry, the company is a key engine on assessments like Comcast, as average income by user have increased.
High speed is part of the Comcast connectivity and platforms segment, which also includes Xfinity Mobile Wireless, which was spear In 2017. The company exceeded 7.8 million mobile lines and unit revenues helped to propel global income from residential connectivity.
Comcast leaders Thursday said the company Focus on the mobile company In a push to add more lines and reach it more with broadband. Watson said Thursday that the company “would deposit the pedal” on the mobile effort in the second quarter.
Comcast lost 311,000 cable television customers during the fourth quarter.
Meanwhile, business and experienced business business income, which includes television networks and Nbcuniversal streaming, the cinema studio and themed parks, increased by 5% to around 12.08 billion dollars in the fourth quarter.
Income from the media segment, which includes television networks, increased by 3.5% to around $ 7.22 billion, namely higher income for Peacock due to an increase in paid subscribers on the previous year platform. The global national advertising for the media segment was stable as advertising dollars for Peacock increased, but television networks have experienced a smaller transport.
The media segment said $ 298 million in adjusted Ebitda, below Wall Street expectations of $ 317.1 million for the quarter, according to Streetaccount estimates. The rest of the companies in the content and experience segment has beat Streetaccount estimates, including the Global Adjusted Ebitda.
In November, Comcast announcement It would turn its wired network channels, a wallet that includes CNBC, MSNBC, E!, Syfy, USA, Oxygène and the Golf Canal. The separation, which will also include digital assets such as Fandango and Rotten Tomatoes, should take about a year. The NBC broadcast network, the Bravo and Peacock cable channel will remain with Comcast.
Peacock has evolved towards profitability during recent quarters. COMCAST said Thursday, Peacock had $ 1.3 billion in fourth quarter and an adjusted ebitda loss of $ 372 million, compared to $ 1 billion in income and an adjusted ebitda loss of $ 825 million in the same period last year.
The growth of Peacock subscribers often increases on the back of major sporting events live on the platform. The Summer Olympic Games in Paris were a key engine in the third quarter, when the platform added 3 million subscribers. The exclusive NFL games have helped fill in streamer numbers, and the company praised the addition of the NBA and the WNBA next season.
Universal studios income increased by 6.7% to 3.27 billion dollars, and the adjusted Baiia in the segment increased by $ 85% to $ 569 million, stimulated by box office successes including “Kung Fu Panda 4”, “Despicable Me 4”, “The Wild Robot” and “Wicked”.
Meanwhile, income from themed parks were stable down the presence persisted to national locations.
Disclosure: Comcast has nbcuniversal, the parent company of CNBC. NBCUniversal has NBC SPORTS AND NBC Olympics. The NBC Olympic Games are the holder of the US broadcasting rights in all summer and winter matches until 2032.
