Comcast Sees Q1 Profit Rise Due to Olympics, Super Bowl and Broadband
variety.comBrian Steinberg Senior TV EditorComcast said first-quarter profit rose due to NBCUniversal’s telecasts of both Super Bowl LVI and the Winter Olympics, as well as a surge in broadband customers at its cable operations.The Philadelphia cable and media giant saw overall revenue increase 14% to slightly more than $31 billion, compared with $27.2 billion in the year-earlier period, with a whopping 46.6% increase in revenue at its NBCU operations due in part to $1.5 billion in cash generated by the two big sports events.
But even without those two landmark broadcasts, Comcast said, NBCU revenue would have increased.Overall, Comcast reported net income of $3.55 billion in the first quarter, or 78 cents a share, compared with $3.32 billion, or 71 cents a share, in the year-earlier period.
Adjusted for one-time items, earnings came to 86 cents per share. “These events were viewed by more than 200 million people in the U.S.
across NBCUniversal’s platforms, including Peacock, which had an exceptional quarter,” said Comcast CEO Brian Roberts, in a prepared statement, referring to the sports broadcasts.
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