Comcast Corporation (NASDAQ:CMCSA) reported first-quarter earnings that exceeded Wall Street expectations, driven by strong advertising revenue tied to major sporting events including the Milan Cortina Winter Olympics and Super Bowl LX. As a result, shares gained over 7% pre-market today.
The company posted adjusted earnings per share of $0.79, surpassing the consensus estimate of $0.72 by $0.07. Revenue reached $31.46 billion, exceeding the $30.37 billion estimate and increasing from the prior-year period.
The company highlighted a “Legendary February,” which delivered record viewership across key sporting events and supported advertising revenue growth.
Connectivity revenue rose 1.6% to $11.6 billion, supported by growth in domestic wireless equipment, business services, and wireless service offerings. Comcast also showed progress in its customer trends, with domestic residential broadband losses improving by 117,000 year-over-year to 65,000.
Domestic wireless additions reached a record 435,000 lines, bringing total wireless subscribers to 9.7 million.
