Comcast beat quarterly revenue estimates on Thursday driven by higher-than-expected subscriber growth at its Peacock streaming service and strong attendance at its theme parks. But shares of the company fell more than 5%.
Comcast beat earnings expectations on Thursday with its Q1 2024 report, but Wall Street was unimpressed as shares tumbled 6% after the market opened as the company continues to bleed pay TV and broadband subscribers.
Comcast lost 65,000 broadband customers in the first three months of the year, but executives are optimistic that new offerings will help slow the decline.