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Comcast Tops Q2 Estimates as Epic Universe Debut and Hulu Stake Sale Drive Profit

After reporting record net income from a $9.4 billion Hulu stake sale, Comcast is preparing to spin off its cable networks into Versant by year-end

Small toy figures with laptops and smartphones are seen in front of displayed Comcast logo, in this illustration taken December 5, 2021. REUTERS/Dado Ruvic/Illustration
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Overview

  • Comcast reported Q2 revenue of $30.31 billion with adjusted EPS of $1.25, surpassing LSEG estimates of $29.81 billion and $1.18 per share
  • Net income jumped 183% year-over-year to $11.1 billion thanks to the one-time $9.4 billion gain from selling its Hulu stake to Disney
  • The May debut of Epic Universe in Central Florida drove theme park revenue up 19% to $2.35 billion despite being open for only one month in the quarter
  • Peacock streaming revenue rose 18% to $1.23 billion as losses narrowed to $101 million and the service held steady at 41 million paid subscribers
  • Connectivity gains included 378,000 new wireless subscribers alongside 226,000 broadband customer losses, prompting simplified bundles and a five-year internet price-lock guarantee