Comcast Lost 167,000 Broadband Subs in Second Quarter, Slightly Worse Than Expected
Streamer Peacock posted its first‑ever quarterly profit, with EBITDA of $189 million and 2 million paid subscriber additions to reach 48 million
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Earnings: Comcast reported deeper broadband losses in the second quarter, saying July 23 that subscribers fell by 167,000, slightly worse than FactSet’s estimate and far above the 65,000 lost in the first quarter. Comcast added 448,000 mobile lines, its best quarter on record, increasing total wireless lines to 10.2 million, with penetration at 7% of total addressable wireless lines in its footprint. It lost 280,000 video customers. Revenue declined 1.2%, while net income dropped to $3.5 billion from $11.1 billion a year earlier, when results included a $9.4 billion Hulu‑related gain. Adjusted net income fell 20.3% and adjusted EBITDA decreased 13.4%. Comcast returned $2.1 billion to shareholders and said Peacock posted its first‑ever quarterly profit, with EBITDA of $189 million and 2 million paid subscriber additions to reach 48 million. Net cash provided by operating activities was $8.1 billion. Free cash flow was $4.6 billion. On June 29, Comcast said it was spinning off NBCUniversal and Sky to form their own company. (More after paywall)
