Comcast Corp. (NASDAQ:CMCSA) reported mixed fourth-quarter results on Thursday, as wireless and streaming strength helped offset ongoing losses in broadband and video.
The Philadelphia-based company reported revenue of $32.31 billion, narrowly missing the analyst consensus estimate of $32.36 billion, despite a revenue growth of 1.2% year-over-year.
The company lost 181,000 broadband customers during the quarter, reflecting pressure from telecom rivals.
Comcast also lost 245,000 video subscribers as consumers continued to shift to streaming platforms.
Total domestic wireless line net additions reached 364,000.
Adjusted earnings per share came in at 84 cents, beating analyst consensus estimates of 76 cents.
Media, Streaming and Theme Parks Performance
Comcast’s media segment posted a 5.5% Y/Y revenue growth to $7.62 billion, driven by higher international networks, domestic distribution, and domestic advertising revenue.
Domestic advertising revenue increased primarily due to an increase in revenue at Peacock, including the positive impact from the launch of the NBA this quarter.
Peacock streaming reported a revenue growth of 23% Y/Y to $1.6 billion while its paid subscribers rose 22% Y/Y to 44 million.
Studios’ …