Comcast Q1 Revenue Slips 4% But Beats Forecasts; NBCUniversal Hits 22 Million Peacock Subscribers As It Turns Page From Jeff Shell
deadline.comComcast reported a 4% year-over-year dip in revenue in the first quarter, to $29.7 billion, but still exceeded Wall Street forecasts.
Analysts had expected $29.3 billion in revenue. Earnings per share, meanwhile, handily beat expectations at 92 cents. Revenue in the company’s Connectivity & Platforms division (which encompasses broadband, wireless and cable TV operations) fell 2% to $20.153 billion, though the company said it was flat when foreign currency impacts are excluded.
The unit continued to see a sizable decrease in video customers, with 614,000 residential customers leaving the fold during the quarter.
The earnings release came just days after the stunning ouster last Sunday of Jeff Shell as CEO of NBCUniversal. The exec apologized for having had an “inappropriate relationship” with a female colleague, and the company said it dismissed him for cause because Shell had sexually harassed and discriminated against her.
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