Comcast started 2022 on a strong note, posting first-quarter results above Wall Street expectations, including promotion revenue from Super Bowl LVI and the Beijing Olympics.
Gross income increased 14% year on year to $31.01 billion, while earnings per share rose 86 cents, up 13%.
The consensus among Wall Street analysts put earnings at 80 cents and revenue of $30.5 billion.
NBCUniversal had a strong quarter, with revenue up 47% to $10.3 billion. That figure includes the additional $1.5 billion in revenue from the Beijing Olympics and Super Bowl, both held in February. The Games grossed $963 million, while the Super Bowl grossed $519 million. Other than this unexpected situation, media revenue still rose 7%.
Universal Pictures also had a strong quarter. sing 2 songs And licensing activities grew 15% in revenue to $2.8 billion. The comparison was positive because most cinemas were still closed in the first quarter of 2021. Theme parks followed a similar path and came back to life after the first quarter of a year.
In the cable division, Comcast dropped another 512,000 video customers, up 17.7 million at the end of the quarter. Results rose again in the top and bottom ranks, thanks to the continued strength of the broadband network and the net increase in customer relationships.
Sky revenue for Sky fell 4.5% to $4.8 billion excluding impact
In currency terms, revenues were unchanged from the prior year. Comcast dubbed lower content revenue, higher ad revenue, and consistent direct revenue per customer.
EBITDA adjusted for Sky rose 71% in the quarter to $622 million, thanks to the resumption of sports rights in Italy and Germany.
Source: Deadline
Lloyd Grunewald is an author at “The Fashion Vibes”. He is a talented writer who focuses on bringing the latest entertainment-related news to his readers. With a deep understanding of the entertainment industry and a passion for writing, Lloyd delivers engaging articles that keep his readers informed and entertained.
