Comcast posts mixed quarter as broadband pressures weigh on business

Core Insights - Comcast reported mixed results for its fourth quarter, beating earnings expectations but slightly missing revenue targets [1][10] Financial Performance - Net income attributable to Comcast decreased by 54.6% to $2.17 billion, or 60 cents per share, compared to $4.78 billion, or $1.24 per share a year earlier [3] - Adjusted net income was reported at $3.06 billion, or 84 cents per share, with adjusted earnings before interest, taxes, depreciation, and amortization down 10% to $7.9 billion [4] - Overall quarterly revenue increased by more than 1% to $32.31 billion, slightly below the expected $32.35 billion [4][10] Business Segments - Revenue for the connectivity and platforms unit, including Xfinity services, decreased by 1% to $20.24 billion, with domestic broadband revenue down 1% to approximately $6.32 billion [5] - The media unit, which includes NBCUniversal, saw revenue rise by 5.5% to $7.62 billion, driven by domestic advertising revenue growth of 1.5% [6][7] - Universal film studio revenue fell by 7.4% to $3.03 billion, while theme parks revenue increased by 22% to roughly $2.9 billion, attributed to the opening of Epic Universe [9] Customer Metrics - Comcast lost 181,000 domestic broadband customers but gained 364,000 mobile customers, bringing the total to over 9.3 million [2] - The company also lost 245,000 pay TV customers, resulting in a total of 11.27 million pay TV customers [6] - NBC's streaming service, Peacock, added 3 million paid customers, ending the year with 44 million paid subscribers, despite reporting losses of $552 million for the fourth quarter [8]