Comcast (CMCSA) Q1 2021 earnings

NBCUniversal kicks off it is new Peacock streaming service.

Todd Williamson | Peacock | NBCUniversal | Getty Pictures

Comcast reported first-quarter outcomes before-the-bell on Thursday that beat analyst estimates on each the highest and backside traces.

Shares have been up greater than 3% within the premarket.

Listed here are the important thing numbers:

  • Earnings per share: 76 cents adj. vs 58 cents anticipated in a Refinitiv survey of analysts
  • Income: $27.21 billion vs $26.7 billion per Refinitiv
  • Excessive-speed web prospects: 461,000 vs 396,000 internet provides anticipated in a FactSet survey

Peacock, the corporate’s streaming service, reached 42 million sign-ups throughout the U.S., in comparison with 33 million from the fourth quarter. Comcast credited the addition of the favored collection “The Workplace” and its unique home streaming rights to the WWE Community for the expansion in Peacock sign-ups.

The corporate additionally had its greatest first-quarter end result on report for complete buyer relationships, including 380,000 to 33.5 million. It added 461,000 high-speed web prospects.

In the meantime, the corporate’s studios division was hampered by the pandemic, which restricted movie show operations and shut down some film manufacturing.

Studios income decreased 0.6% to $2.4 billion within the first quarter of 2021, primarily reflecting decrease theatrical income. Theatrical income decreased 87.7%, pushed by the deferral of big-screen releases, theater closures and capability limits.

On the identical time its content material licensing income elevated 14.1%, primarily as a consequence of a brand new licensing settlement for content material that turned unique to Peacock.

Comcast’s theme park division, hit by closures and capability reductions stemming from the pandemic, noticed income lower 33.1% to $619 million.

Comcast mentioned its Europe-based Sky division continued so as to add prospects amid renewed lockdowns in Europe, including 221,000 to succeed in 23.4 million. That makes for its greatest first quarter lead to six years, the corporate mentioned, whereas the phase’s income elevated 10.6%.

This is how Comcast’s divisions did for the quarter in contrast with a 12 months earlier:

  • Cable communications accounted for $15.81 billion in income, up 5.9%
  • Media introduced in $5.04 billion, up 3.2%
  • Theme parks accounted for $619 million, down 33.1%
  • Studios reported $2.4 billion, down 0.6%

Disclosure: Comcast is the proprietor of NBCUniversal, the father or mother firm of CNBC.

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