Comcast Q2 Upset by Shortfalls at Theme Parks, Movie Studios
variety.comBrian Steinberg Senior TV Editor Comcast Corp. said it grappled with a tricky second quarter in which its traditional TV operations fared relatively well, but its movie-studio and theme-park operations did not, even as it continued to see customers migrate away from some of its cable and broadband offerings.
The Philadelphia owner of NBCUniversal said net income fell 7.5% in the second quarter to approximately $3.93 billion, or $1 per share, compared with $4.25 billion, or $1.02 per share, in the year-earlier period.
EBITDA fell about 1% to $10.17 billion. Meanwhile, revenue in the second quarter was off 3% to $29.69 billion. Revenue from the company’s unit that includes NBCUniversal, theme parks and Universal Pictures fell 7.5% to $10.06 billion.
Revenue from the company’s cable and broadband operations was off 1.4% to $17.82 billion. The results surface as Comcast, like its media rivals, is navigating tricky terrain.
Read more on variety.com