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Comcast Edges Wall Street’s Q1 Forecast, But Domestic Advertising, Broadband Declines Hit Stock
Comcast topped Wall Street analysts' expectations in the first quarter, but downturns in advertising and broadband dragged down its shares.
The company’s ad business, like those of its peers, has suddenly become vulnerable in the current macroeconomic climate, which has seen uncertainty due to President Trump’s on-and-off tariffs. The company shed 427,000 residential video customers in the quarter (a slight improvement from the loss of 487,000 a year ago) to end the period at 12.1 million. The management team sees SpinCo (as it is still temporarily named) as a cash-generating vehicle of potential M&A, given the stress that cord-cutting has put on the legacy business.
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