Updated version 1 - Comcast broadband business sees increasing losses, competitive pressure impacts core operations

Supplemental stock price trends

Reuters, October 22 - Comcast CMCSA.O lost more broadband users than expected in the third quarter as fierce competition eroded its core business. Meanwhile, NBC Universal, ahead of its planned spinoff next year, benefited from growth in its cinema and streaming operations.

Operators such as AT&T and smaller fiber service providers have implemented aggressive price cuts, making it difficult for Comcast to retain broadband subscribers without offering steep discounts.

Details are as follows:

• The company said Thursday that broadband subscribers fell by 144,000 in the third quarter. That figure exceeded the 116,800 predicted by analysts surveyed by FactSet, as well as the 91,000 loss reported a year earlier.

• Reportedly, the company (link) is planning major layoffs to restructure its network connectivity business.

• Comcast's media operations—including its film studio, theme parks, and Peacock streaming service—will be spun off as part of NBC Universal's planned mid-2027 separation from the company.

• "The Odyssey" was a major highlight for Universal Pictures, becoming the highest-grossing film in company history and helping to boost pre-tax profits in that division by 18.6%.

• Driven by World Cup soccer coverage and "Love Island USA" on Peacock, the media unit's third-quarter revenue grew 13% to $5.36 billion.

• Comcast shares rose about 2% in premarket trading.

• Peacock reported pre-tax profit of $261 million for the quarter, compared with a $217 million loss for the same period last year.

• NBC Universal's theme park business faced weak demand in Orlando, while geopolitical tensions continued to hinder Chinese tourism to Japan.

• According to data compiled by LSEG, revenue in this division fell 4.4% to $2.6 billion, missing the analyst average estimate of $2.71 billion.

• Comcast reported adjusted earnings per share of $1.07, above the expected 98 cents a share.

(For the convenience of non-English speakers, Reuters has automatically translated its reports into several other languages. Because automated translation may contain errors or lack needed context, Reuters does not guarantee the accuracy of the translated text and provides it solely as a convenience for readers. Reuters accepts no responsibility for any damage or loss resulting from use of the automated translation feature.)