Comcast Ekes Out Q1 Profit Despite Cord-Cutting, Tepid Ad Spending
variety.comBrian Steinberg Senior TV Editor Comcast notched a small first quarter profit despite continued erosion in its core cable operations and a lack of new spending from advertisers at its NBCUniversal operations.
The Philadelphia owner of NBC, USA and the Peacock streaming service said profit rose just 0.6% during the period, to $3.86 billion, or 97 cents a share, compared with $3.83 billion, or 91 cents a share in the year-earlier quarter.
Revenue rose 1.2% to $30.06 billion. The company lost 65,000 broadband customers during the quarter, but was able to harness increased rates to win a small gain in revenue in its key video operations.
Revenue from the domestic broadband customers segment boosted that growth as rates increased, even as Comcast lost 65,000 customers during the quarter.
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