Comcast Q1 Revenue Tops $31.46B; Wireless Adds 435K, Broadband Losses 65K
Comcast’s first-quarter adjusted EPS was $0.79 on revenue of $31.46B, surpassing consensus forecasts of $0.73 and ~$30.6B. Broadband net losses narrowed to 65,000 users, while wireless additions reached 435,000 and Peacock gained 2M paid subscribers, bolstered by a blockbuster sports lineup; theme park revenue rose 24%.
1. First-Quarter Earnings and Revenue
Comcast reported first-quarter profit of $2.17 billion and adjusted EPS of $0.79, beating analyst estimates of $0.73. Total revenue reached $31.46 billion, exceeding forecasts of approximately $30.6 billion and marking a 10.9% increase excluding spin-off contributions.
2. Broadband and Wireless Subscriber Trends
The company’s broadband business lost 65,000 subscribers, a marked improvement versus the 175,500 losses analysts had projected. Comcast’s wireless arm added 435,000 customers—its strongest quarter on record—surpassing the forecast of 361,600 additions.
3. Streaming Segment and Sports Impact
Peacock streaming service expanded its paid subscriber base by 2 million to 46 million, driven by a packed sports calendar including the Winter Olympics, Super Bowl and NBA games. However, streaming losses widened to $432 million due to elevated programming and marketing costs.
4. Theme Park Division Growth
Comcast’s theme park division posted a 24% revenue increase, led by higher attendance at Epic Universe in Orlando, which opened last May and contributed significantly to segment growth.