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Comcast Gets Q3 Olympics Boost, Adds 3M Peacock Subs Amid Challenges in Broadband, Theme Parks
Comcast got a $1.9 billion revenue boost from the Paris Olympics in the third quarter despite pressures from broadband and theme parks
Comcast found a way to get it past its usual challenges of consumers leaving its cable offerings and getting people to visit its theme parks: the Olympics. The company said it saw a shot in the arm of $1.9 billion in revenue from the Olympics in the form of advertising cash and new subscriptions to its Peacock streaming service, even as it an exodus of broadband and video consumers from its large connection-services operations. Comcast also grappled with headwinds at its theme parks, which saw a decline of 5.3% in revenue as the company said customers opted to put their travel dollars into overseas trips as well as cruises.
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