July 31 (Reuters) - Comcast ( CMCSA ) topped estimates
for quarterly revenue and profit on Thursday, driven by a surge
in theme park attendance sparked by the May debut of "Epic
Universe", growth in its domestic wireless business and a spike
in streaming revenue.
The Central Florida attraction boosted theme park revenue by
nearly 19% in the second quarter, to $2.35 billion, even though
it was open for about one month into the reporting period.
The park, which represents an estimated $7 billion
investment, is one of the six areas that will contribute to
Comcast's ( CMCSA ) growth.
The live-action remake of the DreamWorks animated movie "How
to Train Your Dragon" generated around $600 million in global
box office, lifting the studio's April-to-June revenue up 8%
from a year ago.
The Peacock streaming service reported revenue of $1.23
billion, a nearly 18% improvement, reflecting price hikes
implemented in July 2024.
Peacock maintained its total paid subscriber base of 41
million, thanks to hit shows such as the reality dating
competition "Love Island USA". Losses at the division narrowed
to $101 million, from $348 million a year earlier.
Overall, Comcast ( CMCSA ) reported revenue of $30.31 billion,
narrowly beating the estimates of $29.81 billion, according to
data compiled by LSEG.
On an adjusted basis, the company earned $1.25 per share,
compared with estimates of $1.18.
The company added 378,000 new wireless phone customers in
the quarter, beating FactSet expectations for 345,000 additions.
Comcast ( CMCSA ), which houses the Xfinity-brand of internet and
cable services, shed 226,000 broadband customers in the second
quarter, fewer than the 255,000 losses forecast by FactSet.
To offset the ongoing broadband losses, Comcast ( CMCSA ) has offered
simplified all-inclusive packages that combine home internet,
mobile and entertainment services.
Comcast ( CMCSA ) has also launched a five-year price lock guarantee
for its internet customers, as it looks to reduce cancellations.
(Reporting by Harshita Mary Varghese in Bengaluru and Dawn
Chmielewski in Los Angeles; Editing by Sriraj Kalluvila)