Benzinga - by Anusuya Lahiri, Benzinga Editor.
Comcast Corp (NASDAQ: CMCSA) reported a third-quarter FY23 revenue growth of 0.9% year-on-year to $30.12 billion, beating the consensus of $29.69 billion. Adjusted EPS of $1.08 beat the consensus of $0.95.
Segments: Revenue for Connectivity & Platforms grew by 1.1% Y/Y to $20.27 billion. Broadband revenue grew 3.8% Y/Y to $6.37 billion.
Customer Relationships increased by 40,000 to 52.3 million. Broadband customer net losses were 18,000, and total video customer net losses were 490,000. The company's Connectivity & Platforms added 294,000 wireless lines.
Also Read: T-Mobile Boasts 850K New Postpaid Mobile Customers in Q3, Adjusted Free Cash Flow Soars 94% YoY
Oppenheimer grossed more than $900 million in the worldwide box office in the third quarter, the third-highest-grossing film of the year and the highest-grossing biopic of all time.
Revenue from Media increased by 0.4% Y/Y to $6.3 billion due to higher international networks and domestic distribution revenue, offset by lower domestic advertising revenue, and Studios decreased by 23.6% Y/Y to $2.52 billion due to lower content licensing revenue and theatrical revenue.
Peacock's paid subscribers in the U.S. increased nearly 80% Y/Y to 28 million. Peacock's revenue grew by 64% to $830 million.
Theme Parks' revenue increased by 17.2% to $2.42 billion due to higher revenue at its international theme parks due to the pandemic recovery.
Adjusted EBITDA margin of Connectivity & Platforms grew by 100 bps to 40.6%.
Comcast generated $4.0 billion in free cash flow and held $6.44 billion in cash and equivalents.
Connectivity & Platforms' capital expenditures were $3.3 billion, up 18% Y/Y. Content & Experiences' capital expenditures increased by 44% to $884 million, reflecting increased investment in constructing the Epic Universe theme park in Orlando.
Price Action: CMCSA shares traded lower by 6.43% at $40.01 premarket on the last check Thursday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.