Connect with us

CNBC

Comcast reports record internet customers, 33 million Peacock sign-ups for NBCUniversal

Comcast reported fiscal fourth-quarter results that beat analyst estimates on the top and bottom lines.

Published

on

Comcast on Thursday reported fiscal fourth-quarter results that beat analyst estimates on the top and bottom lines.

Comcast also reported record net customer additions for high-speed internet service in Q4, and an additional 11 million subscribers to its new streaming service, Peacock.

The stock closed up more than 6.5%.

Here are the key numbers:

  • Earnings per share: 56 cents adjusted vs. 48 cents expected in a Refinitiv survey of analysts
  • Revenue: $27.71 billion vs. $26.78 billion expected by Refinitiv
  • High-speed internet customers: 538,000 vs. 490,000 net adds expected in a FactSet survey

The company said NBCUniversal’s Peacock now has 33 million sign-ups across the U.S., up from 22 million last quarter. The company said its exclusive agreement to stream wrestling matches from the WWE Network in the U.S., announced earlier this week, should also drive sign-ups and engagement, along with the recent launch of “The Office” on the platform.

Comcast also raised its quarterly dividend to 25 cents per share from 23 cents. CEO Brian Roberts said in the earnings report that the company also expects to begin repurchasing shares later in 2021.

The company reported its best fourth-quarter result on record for total customer relationships, adding 455,000 customers to reach 33.1 million. It added 538,000 high-speed internet customers.

Comcast said its Europe-based Sky division has continued to add customers, up 244,000 to 23.9 million in Q4. That brought its customer relationships and overall Sky revenue in Europe back to pre-Covid 2019 levels, the company said.

Comcast’s theme park division, which has suffered due to the pandemic, continued to get hit by closures and capacity reductions stemming from the pandemic. Theme park revenue fell nearly 63% to $579 million. The company said adjusted earnings before interest, taxes, depreciation and amortization was a loss of $15 million, which included costs for its not-yet opened Universal Beijing.

“Without those costs, and better attendance at the Orlando and Osaka parks, even with Hollywood closed, the Theme Parks reached breakeven,” the company said.

The filmed entertainment division has also been battered by the pandemic, which restricted movie theater operations and shut down some movie production. The segment’s revenue decreased 8.3% to $1.4 billion. The company said that was partly offset by higher content licensing revenue. Its adjusted EBITA increased more than 65% to $151 million, “reflecting lower revenue more than offset by lower operating costs — driven by lower advertising, marketing and promotion expenses due to a reduced number of releases to the prior year.”

Comcast said its decision to release titles on premium video-on-demand has proven to be profitable.

The company said the rollout of vaccines brings optimism that its impacted business segments will return to growth. It’s also optimistic that the Tokyo Olympics, scheduled to open on July 23, will still occur.

“Anything could happen, but we’re pretty confident that the Olympics will happen and the advertisers are hopping in and agreeing,” NBCUniversal chief Jeff Shell said on the company’s earnings call.

Here’s how Comcast’s divisions did for the quarter compared with a year earlier:

  • Cable communications accounted for $15.7 billion in revenue, up 6.3%.
  • Cable networks brought in $2.7 billion in revenue, down 6.4%.
  • Broadcast television accounted for $2.8 billion in revenue, down 12%.
  • Filmed entertainment brought in $1.4 billion in total revenue, down 8.3%.
  • Theme parks brought in $579 million in revenue, down 63%.

Disclosure: Comcast is the owner of NBCUniversal, the parent company of CNBC.

Subscribe to CNBC on YouTube.

Source: https://www.cnbc.com/2021/01/28/comcast-cmcsa-q4-2020-earnings.html

comcast-reports-record-internet-customers,-33-million-peacock-sign-ups-for-nbcuniversal

CNBC

Earnings

Corporate Company Earnings, Find Earnings Per Share and Earnings History Online

Published

on

© 2021 CNBC LLC. All Rights Reserved. A Division of NBCUniversal

Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Market Data Terms of Use and Disclaimers

Data also provided by Reuters

Source: https://www.cnbc.com/earnings/

earnings

Continue Reading

CNBC

International: Top News And Analysis

CNBC International is the world leader for news on business, technology, China, trade, oil prices, the Middle East and markets.

Published

on

© 2021 CNBC LLC. All Rights Reserved. A Division of NBCUniversal

Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Market Data Terms of Use and Disclaimers

Data also provided by Reuters

Source: https://www.cnbc.com/us-top-news-and-analysis/

international:-top-news-and-analysis

Continue Reading

CNBC

Earnings

Corporate Company Earnings, Find Earnings Per Share and Earnings History Online

Published

on

© 2021 CNBC LLC. All Rights Reserved. A Division of NBCUniversal

Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Market Data Terms of Use and Disclaimers

Data also provided by Reuters

Source: https://www.cnbc.com/earnings/

earnings

Continue Reading

Title

Techcrunch6 days ago

South Korean antitrust regulator fines Google $177M for abusing market dominance – TechCrunch

The Korea Fair Trade Commission (KFTC) said on Tuesday it fined Google $177 million for abusing its market dominance in...

Cointelegraph1 week ago

El Salvador’s Bitcoin detractors: Opposition groups gather as crypto law rolls out

While President Bukele enjoys widespread popularity, his law that makes Bitcoin legal tender does not.

Ventureburn1 week ago

Startup partners with Telkom to launch translation platform for SA languages

Telkom has partnered with SA startup Enlabeler to launch an AI platform that translates speech into text and provides transcription...

Entrepreneur2 weeks ago

Why You Should Make Twitter Spaces Part of Your Business Strategy

Twitter's latest feature can help businesses grow their presence on the platform.

Bioengineer2 weeks ago

What factors put Philippine birds at risk of extinction?

Credit: Ça?an ?ekercio?lu The lush forests and more than 7,000 islands of the Philippines hold a rich diversity of life,

Reuters3 weeks ago

Chinese social media platforms to “rectify” financial self-media accounts

China's top social media platforms, Wechat, Douyin, Sina Weibo and Kuaishou, said on Saturday they would begin to rectify irregular...

Ventureburn3 weeks ago

South African startups helping to solve the global challenges

A new generation of entrepreneurs are not only incubating solid startups but are contributing to help solve some of the...

Techcrunch4 weeks ago

The SEC and the DOJ just charged this startup founder with fraud, saying he lied to Tiger and others – TechCrunch

Today, both the U.S. Department of Justice and the Securities and Exchange Commission charged Manish Lachwani, cofounder of a mobile...

Techcrunch4 weeks ago

Blockchain startup XREX gets $17M to make cross-border trade faster – TechCrunch

A substantial portion of the world’s trade is done in United States dollars, creating problems for businesses in countries with a...

ZDNET1 month ago

National Australia Bank keeping staff connected with Google Pixel rollout

More than 2,000 Google Pixel devices were issued to NAB's customer contact teams to enable them to support customers remotely.

Review

    Select language

    Trending