Comcast on Thursday reported that first-quarter earnings exceeded expectations, but sales declined. Closely observed data on new high-speed Internet customers propose projections.
Comcast said that quarter was the best quarterly EBITDA cable growth of over 10 years, with 9.8% reflected an increase of 5% to $ 5.7 billion. The increase reflects higher revenue, although operating costs increased 0.8%.
With analysts predicting a decline in Comcast's video segment, the company plans to continue to establish itself in the streaming space. Comcast lost 121,000 video customers in the quarter compared to 96,000 in the same period last year.
NBCUniversal, the parent company of CNBC, was a Comcast company that announced earlier this year that it would launch its free, ad-supported streaming service on the Internet. First Quarter 2020. The service is available to all traditional pay-TV subscribers by logging in via a cable or satellite provider. Anyone else can sign up for about $ 12 a month, a person familiar with the company's business plans said shortly after the CNBC announcement. NBCUniversal's service will be faced with established streaming services such as Netflix and Amazon Prime Video, as well as newer players from Disney, Apple and AT & T's WarnerMedia.
Comcast boss Brian Roberts said the uptick in new streaming services could actually be a boon to the business.
"The more people who want to stream, the more they want the best broadband," Roberts said in an interview with CNBC's "Squawk Box" following the report. "So you see the results we saw in the first quarter today, which is why broadband has been strong not just this quarter but throughout the last year, and we hope to see it through the rest of this year."
Comcast NBCUniversal reported sales of $ 8.3 billion, down 12.5% from a year ago, with additional revenue of $ 1.6 billion related to the Olympic Games and Super Bowl included.
The Comcast report contained for the second time the performance of British television channel Sky Acquisition last year. Comcast generated $ 4.8 billion in pro forma revenue from Sky in the first quarter, primarily due to higher content revenues. Sky added 112,000 customer relationships to the quarter, which Comcast said reflected the growth in all its markets.
How Comcast's Other Businesses Developed in the First Quarter:
- Cable revenue was $ 14.3 billion.
- Cable networks, excluding Olympics, had a total revenue of $ 2.9 billion.
- Radio and television (excluding the Olympics and Super Bowl) had a combined revenue of $ 2.5 billion.
- Filmed entertainment generated $ 1.8 billion. 19659005] Theme Parks generated sales of $ 1.3 billion.
Revelation: Comcast is the owner of NBCUniversal, the parent company of CNBC and CNBC.com.
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