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Comcast Ekes Out Q1 Profit Gain Despite Cord-Cutting, Tepid Ad Spending
Comcast said first quarter profit increased slightly despite erosion of video customers and a sluggish U.S. ad market
The company lost 65,000 broadband customers during the quarter, but was able to harness increased rates to win a small gain in revenue in its key video operations. The company’s overall content operations secured a 1.1% gain in revenue, driven largely by U.S. distribution fees and American theme parks. U.S. advertising was flat with year-earlier results, Comcast said, citing lower revenue from its domestic TV operations.
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