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Comcast Tops Wall Street’s Q2 Estimates, But NBCUniversal Ad Revenue Falls 27%

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deadline.com
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Dade Hayes Finance EditorComcast topped Wall Street analysts’ forecasts for the COVID-19-hit second quarter, with total revenue slipping 12% from a year ago to $23.7 billion and adjusted earnings per share reaching 69 cents.While the earnings figure declined from 78 cents in the year-ago quarter, it was far higher than the consensus expectation of 55 cents.Revenue at NBCUniversal dropped 25% in the quarter, to $6.1 billion.

Advertising, as expected, took a major hit, declining 27%. Distribution revenue fell 15%, with the more moderate decline caused by credits given to some of the company’s regional sports networks due to games not played by pro sports teams during COVID-19.

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