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Comcast Sees Q1 Profit Dip on Cable and Ad Revenue Declines, Peacock Climbs to 41 Million Subscribers
Comcast said first quarter profit dipped as the company grappled with downturns in U.S. ad sales and lost traditional cable subscribers
In a statement, Comcast CEO Brian Roberts said the company was showing financial discipline during a challenging environment for the media industry. “With our significant free cash flow generation, disciplined approach to capital allocation and the strength of our diversified businesses, I am confident that we are well-positioned to navigate an evolving environment and capture future opportunities,” he said. For Comcast, such dynamics are difficult not only because it operates several large traditional media networks, but also because it derives the greater part of its revenue from so-called “connectivity” operations, including the distribution of cable TV.
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