Comcast used its second-quarter earnings call to highlight progress in broadband repositioning, wireless expansion, and the planned separation of NBCUniversal and Sky. The company reported adjusted earnings per share of $1.04, beating the Zacks Consensus Estimate of $0.97, on revenues of $29.94 billion, which also topped the $29.18 billion consensus. Domestic broadband customer losses improved to 167,000 from 201,000 a year earlier, though broadband average revenue per user declined 3.8% due to pricing actions and wireless promotions. Total domestic wireless lines reached 10.2 million after a record quarterly addition of 448,000 lines, and management noted that early free-line conversion cohorts are tracking in line with expectations. Peacock achieved its first quarterly profit with $189 million in EBITDA and added 2 million paid subscribers to reach 48 million, while Media revenues rose 25.3% year over year. Capital expenditures increased to $2.9 billion, and the company generated $4.6 billion in free cash flow while returning $2.1 billion to shareholders.
Comcast CorpComcast beat earnings and revenue estimates, reported strong free cash flow, and returned $2.1 billion to shareholders.