By Freddy Sebastian
Comcast continued to lose domestic broadband customers in the fourth quarter, though overall revenue edged up as its wireless, streaming and parks businesses continued to grow.
The cable-and-entertainment company said Thursday it lost 181,000 broadband customers in the U.S., more than the 176,000 customers that analysts had expected to exit, according to FactSet. Domestic broadband revenue slipped to $6.32 billion.
The company also lost 245,000 domestic video customers, slightly better than the loss of 247,600 video customers analysts expected. Revenue for the cable business was down 5.6%, at $6.36 billion.
Comcast said it added 364,000 customer lines for its Xfinity Mobile wireless business. That fell below the 397,000 additions analysts had been looking for, according to FactSet. Xfinity Mobile's revenue climbed 18% year-over-year to $1.4 billion.
In total, Comcast lost 181,000 customer relationships, compared with a loss of 195,000 relationships that analysts had predicted.
Peacock, the streaming app of Comcast's NBCUniversal, revenue surged 23% to $1.63 billion from the same quarter in the prior year. Peacock's tally of paid subscribers was up 22% at 44 million, above analysts' expectations of 42.8 million.
The company's park segment continued to enjoy higher numbers as revenue at Universal Studios was up 22% to $2.89 billion, while revenue from its studios fell 7.4% to $3 billion.
Fourth-quarter revenue rose in total by 1.2% to $32.3 billion, in line with analyst projections, according to FactSet.
Comcast posted a quarterly profit of $2.17 billion, or 60 cents a share, compared with $4.78 billion, or $1.24 a share, in the same quarter a year earlier. The year-earlier quarter was helped by a tax benefit.
Stripping out one-time items, adjusted earnings were 84 cents a share, beating the 73 cents analysts expected, according to FactSet.
Shares recently rose 1.7% to $28.89.
Write to Freddy Sebastian at freddy.sebastian@wsj.com
(END) Dow Jones Newswires
01-29-26 1001ET
