Comcast delivered a mixed bag of first-quarter results, missing Wall Street expectations for revenue, but beating profit forecasts. The media giant also warned investors of a “significantR…
showed signs of the pandemic’s impact, with its first-quarter revenue sliding 7% from a year ago to $7.7 billion, and earnings plunging 25% to $1.7 billion.
The coronavirus has boosted some parts of Comcast’s business, with its cable unit seeing a 33% increase in upstream traffic and a 40% increase in WiFi data usage, thought that surge has also incurred expenses for maintaining the network. The company said the pandemic will have “a material adverse impact on our consolidated results of operations over the near-to-medium term.
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