Comcast Q3 Sees Continued Broadband Downturn, Despite Boosts From World Cup, Peacock

Comcast‘s third-quarter results were buoyed by a surge in advertising tied to the Spanish-language telecast on NBCU’s Telemundo, a profit at its Peacock streaming service and the box-office performance of films like “The Odyssey,” but revenue in most parts of the company’s cable-and-media empire dipped as the Philadelphia media conglomerate faced challenges in its core cable-and-connections business as well as its theme parks.

Comcast said third quarter revenue fell 6.1% to nearly $29.3 billion, compared with nearly $31.2 billion in the year-earlier period. Net income, however, rose 3.5%, to nearly $3.45 billion, compared with $3.33 billion in the year-ago quarter.

Revenue from the company’s connectivity and platforms operations fell to $19.66 billion. The company said its broadband users decreased by 144,000 in the third quarter, compared with a erosion of 91,000 in the year-earlier quarter. Comcast also lost 274,000 domestic video customers, compared with 257,000 a year earlier.