Comcast beats earnings expectations, reports Peacock sign-ups grow to 42 million
Comcast is set to report first-quarter results before-the-bell on Thursday.
Here are the key numbers:
- Earnings per share: 59 cents expected in a Refinitiv survey of analysts
- Revenue: $26.7 billion per Refinitiv
- High-speed internet customers: 396,000 net adds expected in a FactSet survey
NBCUniversal’s streaming business, Peacock, has been a bright spot for the company during the coronavirus pandemic. Last quarter, the company surpassed 33 million sign-ups across the U.S. Investors will continue to be focused on how the streaming service fares against the onslaught of competition.
It could also continue to see growth in high-speed internet customers, with people continuing to work and conduct school remotely. The segment is expected to bring in $5.6 million this quarter, according to FactSet estimates.
Meanwhile, the company’s filmed entertainment division was hampered by the pandemic, which restricted movie theater operations and shut down some movie production. For 2020, revenue from the filmed entertainment segment decreased 18.7% year over year to $5.3 billion, primarily reflecting lower theatrical revenue
Comcast’s theme park division, hit by closures and capacity reductions stemming from the pandemic, is also likely continue to show weakness in the prior quarter. The segment’s annual revenue dropped to $1.8 billion in 2020, a 69% loss from the $5.9 billion it reported a year prior.
The company has been optimistic that the roll out of coronavirus vaccines and the subsequent easing of travel restrictions will allow its impacted business segments to return to growth. It’s also optimistic that the Tokyo Olympics, scheduled to open on July 23 and air across NBC properties, will still occur.
Disclosure: Comcast is the owner of NBCUniversal, the parent company of CNBC.
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