Comcast (CMCSA) earnings Q1 2022

Comcast reported first-quarter earnings Thursday that beat analyst estimates on the highest and backside traces, sending shares up greater than 4% in premarket buying and selling.

Listed below are the important thing numbers:

• Earnings per share: 86 cents, adjusted vs. 80 cents per share, in keeping with Refinitiv
• Income: $31.01 billion vs. $30.5 billion, in keeping with Refinitiv
• Excessive-speed web clients: 262,000 vs. 229,000 web additions, in keeping with analysts surveyed by FactSet

The corporate’s Europe-based Sky division noticed its income slide 4.5% 12 months over 12 months to $4.8 billion, because of the affect of foreign money, in addition to decrease content material income. Analysts surveyed by FactSet have been projecting Sky income of $4.92 billion for the quarter.

Comcast’s Common theme park enterprise continued to get better after prolonged shutdowns because of the coronavirus pandemic. Income within the division soared greater than 151% 12 months over 12 months to $1.56 billion, which exceeded analysts’ projected $1.44 billion, in keeping with FactSet.

“Our restoration from the pandemic at theme parks has been implausible and exhibits no indicators of slowing down,” Comcast CEO Brian Roberts mentioned in an announcement.

NBCUniversal noticed a roughly 46% income rise within the first quarter, which included $1.5 billion from the Beijing Olympics and the Tremendous Bowl. 

Promoting income jumped 59.2% through the quarter, largely due to these two occasions.

This is how Comcast’s divisions did for the quarter in contrast with a 12 months earlier:

• Cable Communications contributed $16.54 billion in income, up 4.7%
• Media introduced in $6.87 billion in income, up 36.3%
• Studios contributed $2.76 billion in income, up 15.1%
• Theme Parks introduced in $1.56 billion in income, up 151.9%
• Sky contributed $4.77 billion in income, down 4.5%

Comcast didn’t report sign-ups for Peacock, NBCUniversal’s ad-supported streaming platform, however Roberts mentioned in an announcement that the unit had “an distinctive quarter.” In January, the corporate said Peacock ended 2021 with 24.5 million month-to-month lively accounts.

On Wednesday, Comcast announced a new joint venture with Constitution Communications that can see its Xfinity Flex streaming {hardware} accessible to broadband subscribers of each firms.

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Disclosure: Comcast owns CNBC’s mother or father NBCUniversal.