Comcast Sees Q4 Profit Rise 8% on Business Services, Peacock, Theme Parks
variety.comBrian Steinberg Senior TV Editor Comcast saw fourth-quarter profit surge by 7.8% as the cable giant increased the number of businesses using its communications services, its Peacock streaming hub added 3 million subscribers and its theme parks saw robust activity. “Our unique and complementary capabilities will enable us to capitalize on the many opportunities ahead,” said Brian Roberts, the company’s chairman.
Comcast is, like its rivals, navigating in a difficult period for media companies as one-time TV viewers migrate to streaming video, reducing interest in traditional linear entertainment services and traditional cable.
The Philadelphia owner of NBCUniversal said net income rose 7.8% to $3.26 billion, or 81 cents a share, compared with $3.02 billion, or 70 cents a share, a year earlier.
Revenue increased 2.3% compared with the prior-year period. The company eked out positive results despite losing 389,000 video subscribers and seeing a 6.9% decline in U.S.
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