Comcast Q1 mixed despite steady growth in business, high-speed Internet services
See als
Cable giant Comcast missed first quarter revenue estimates but showed strong growth across several lines of business. In the first quarter, Comcast reported net income of $3.18 billion, or 66 cents a share, on revenue of $26.85 billion, up 17.9% from a year ago. Excluding items, Comcast reported earnings of 76 cents a share in the first quarter.
Wall Street was expecting Comcast to report first quarter earnings of 67 cents a share on revenue of $27.21 billion.
Comcast consists of several properties, but Comcast Business is among its top three fastest growing segments. Comcast Business delivered revenue of $1.89 billion, up 11.9 percent from a year ago. Comcast high-speed Internet revenue was up 10% as video, voice and ad sales fell. The company's wireless business grew 21.4% to $225 million.
Here's a look at how the company's customer base shakes out:
"Comcast is off to a terrific start in 2019, financially, operationally and strategically," said Comcast CEO Brian Roberts. "Across all parts of the company, our teams are executing at a high level and collaborating to drive growth and innovation.