Time: 2024-07-23
Comcast Corp , listed on NASDAQ : CMCSA , recently reported its earnings for the second quarter , showing a mixed performance in various segments . The company 's revenue fell short of expectations due to tough year - over - year comparisons for its film studio and theme parks . However , its streaming service , Peacock , continued to show growth despite the challenges . The company 's stock also experienced a decline of about 4 % in early trading . For the quarter ended June 30 , net income decreased by 7.5 % to approximately .93 billion , with earnings per share coming in at per share , compared to .25 billion in the same quarter last year . Additionally , adjusted EBITDA fell by about 1 % to 0.17 billion.
Comcast faced a slight slump in broadband customer growth during the quarter , losing 120,000 customers , with 110,000 of those being residential customers . Despite the competition and challenges in the broadband industry , Comcast 's president , Mike Cavanagh , emphasized that broadband remains a core focus for the company . The company 's overall customer base stands at more than 32 million . Revenue from the segment that includes Xfinity - branded broadband , cable TV , and mobile saw a decrease of 1.5 % to 7.82 billion . However , the domestic broadband revenue increased by 3 % to .57 billion due to price hikes . Comcast 's mobile business also saw growth , with the number of customer lines increasing by 20 % compared to last year.
Comcast 's theme park revenue dropped by nearly 11 % to .98 billion , as attendance normalized following a record - setting year in 2023 . The company acknowledged making fewer investments in new Florida attractions , affecting attendance . Revenue from the Universal Pictures studio fell by 27 % to .25 billion , facing tough comparisons with the previous year 's successful movie releases . Despite these challenges , Comcast remains optimistic about the future of its theme parks business . The company 's movie - studio and theme - park operations faced difficulties in the second quarter , while its traditional TV operations performed relatively well.
In conclusion , Comcast 's recent earnings report reflects a mixed performance across its various segments . While facing challenges in its movie - studio and theme - park operations , the company continues to focus on its broadband business and streaming services for future growth and success.