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Comcast Corp (NASDAQ:CMCSA) shares are trading lower on the heels of the company’s first-quarter financial results. Here’s a rundown of the report.
What To Know: Comcast said first-quarter revenue increased 1.2% year-over-year to $30.058 billion, which beat the consensus estimate of $29.811 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.04 per share, which beat analyst estimates of 99 cents per share.
Comcast said it generated $4.5 billion in free cash flow during the quarter.
Domestic broadband average rate per customer increased 4.2% and domestic wireless customer lines Increased 21%, including net additions of 289,000. Peacock paid subscribers increased 55% year-over-year to 34 million, including net additions of 3 million in the first quarter.
“We delivered double-digit growth in Adjusted EPS and free cash flow while returning $3.6 billion to shareholders, investing aggressively in our businesses, and maintaining our strong balance sheet,” said Brian Roberts, chairman and CEO of Comcast.
“We grew broadband ARPU over 4%, delivered 7% revenue growth in our connectivity businesses, and expanded our Adjusted EBITDA margin across Connectivity & Platforms.”
Management will hold a conference call to discuss these results at 8:30 a.m. ET.
Check This Out: Meta Platforms Q1 Earnings Highlights: Facebook Owner Beats Estimates, But Guidance, Higher Costs Ding Stock
CMCSA Price Action: Comcast shares were down 3.62% at $38.76 at the time of publication, according to Benzinga Pro.
Photo: rarrarorro from Shutterstock.
Posted In: CMCSA
