Comcast beats on Q4 earnings
Yahoo Finance Live anchors discuss fourth-quarter earnings for Comcast.
Video Transcript
BRIAN SOZZI: Comcast topped earnings expectations on the top and bottom lines. This is coming despite losing thousands of broadband customers due to Hurricane Ian as well as a rough quarter from Peacock as that resulted in a loss of nearly a billion dollars.
Stock not doing much here. Worth calling out, adjusted operating profits down almost 5% in the most recent quarter against a slight revenue increase. Never like to see that.
JULIE HYMAN: Peacock may be losing money, but it's still adding subscribers. It added 5 million new subscribers. So last year at the end of the year they had over 20 million subscribers. So it's seen a decent amount of growth from that perspective, and as we know, when a streaming service ramps up, that's what they focus on. They don't care about making money. We'll see if they do at some point, when the page turns on that.
At the same time, you mentioned cable subscribers are quitting. It was more than 2 million who quit cable from Comcast last year. So, you know, the writing's on the wall with that, but still, it's not great to see that kind of a number.
BRAD SMITH: Yeah, I'm doing some quick charting as well on our Yahoo Finance Interactive-- well, not our Interactive but on our Yahoo Finance platform, which all of our viewers have access to. And one of the charting mechanisms, you'll actually be able to see that over the long term-- if you pull up that year chart, 52 weeks, they've actually broken through one of the top-side resistance levels, just barely. It will be interesting to see if shares hold above that in the near term as well.
