European soccer helped Comcast top expectations in its latest earnings report. Comcast’s European Sky TV revenue jumped to $4.79 billion, up from $4.55 billion year-over-year, largely because of soccer restarting.
All three of Comcast’s business units beat revenue projections with high-speed internet driving the majority of 556,000 new cable subscriptions. Cable video contributed a net loss of 273,000 subscribers compared to competitor AT&T’s drop of 627,000 pay-TV customers.
NBCUniversal saw a major dip in theme park revenue, but the unit still generated $6.72 billion — more than analysts expected. Overall, Comcast saw its revenue decrease to $25.53 billion from $26.82 billion in the same quarter last year.
Comcast Quarterly Revenue:
Comcast overall: $25.53 billion, down 4.8% year-over-year
Cable Communications: $15 billion, up 2.7%
NBCUniversal: $6.46 billion, down 22.2%
Sky TV: $4.79 billion, up 5.3%