Comcast Q3 Earnings: Olympics Power NBCUniversal Gains, Peacock Hits 36M Subscribers, Explores Forming New Company Of Cable Networks
Portfolio Pulse from Anusuya Lahiri
Comcast reported a Q3 revenue decline of 6.5% to $32.07 billion, beating estimates. Adjusted EPS was $1.12, also surpassing expectations. The Summer Olympics boosted NBCUniversal and Peacock, with Peacock's subscribers reaching 36 million. Comcast is exploring forming a new cable networks company.
October 31, 2024 | 1:20 pm
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Comcast's Q3 earnings beat expectations with revenue at $32.07 billion and EPS at $1.12. The Olympics significantly boosted NBCUniversal and Peacock, which now has 36 million subscribers. Comcast is considering forming a new cable networks company.
Comcast's earnings exceeded expectations, driven by the Olympics' impact on NBCUniversal and Peacock. The stock price increased following the report, indicating positive market reception. The exploration of a new cable networks company suggests strategic growth initiatives.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Comcast lost 365,000 video subscribers as streaming services like Netflix gain traction. This highlights the competitive pressure Comcast faces from streaming giants.
The loss of video subscribers at Comcast underscores the competitive threat posed by Netflix and other streaming services. This trend could benefit Netflix as traditional cable subscribers shift to streaming.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 30