By Allan Frank
Philly-based Comcast, which includes NBC, Universal Pictures, several theme parks, and the Peacock streaming service, beat Wall Street’s expectations in its first-quarter earnings report as it continued to shift its emphasis from cable to digital.
The numbers tell the story. At the end of March, Comcast had:
19 million cable subscribers, a loss of 491,000 since December, down from a high of 24 million in 2016
31 million broadband internet subscribers, a gain of 461,000
42 million sign-ups to the streaming platform Peacock, a jump of 9 million.
Even as it lost customers, Comcast’s cable television business was still the company’s biggest source of revenue. It pulled in more than $5.62 billion in for the first quarter, a figure that was flat compared with last year, but still accounted for a fifth of all revenue.