Comcast beats expectations as higher prices offset slowing broadband growth
Summary
Comcast beat analyst estimates on Thursday when it reported its second-quarter results, as higher pricing helped offset a continued slowdown in its broadband business. The broadband business looked to be stabilizing, as it was expected Comcast with lose more than 70,000 customers this quarter, Wells Fargo analyst Steven Cahall said in a Thursday note. CFO Jason Armstrong said Thursday the company was "bullish on further increasing the Peacock subscriber base," as more Xfinity customers transition to paid accounts and a strong slate of programming in the second half of the year, including the premiere on Aug. 3 of "The Super Mario Bros. Movie," and "Sunday Night Football" in the fall. Peacock added two million customers during the quarter, largely driven by Comcast Xfinity subscribers that began paying for subscriptions in June following nearly three years of free access. NBCUniversal is grouped under Comcasts second segment -- content and experiences -- which includes all of the TV and streaming business, the international networks and Sky Sports, along with its film studios and theme parks.