Comcast sees broadband demand slowing in Q2 in a tougher economy

Communications giant Comcast said demand for two of its key services — broadband and NBCU streaming video site Peacock — slowed in the second quarter as the prospect of a deteriorating economy hurt consumers’ ability to shop for goods and services to buy, which may not be the core of their daily lives.

The Philadelphia owner of NBCUniversal and cable giant Comcast said its high-speed Internet subscribers for the quarter — a key metric — were essentially the same as the prior period, 32.1 million versus 31.3 million. Peacock’s subscriptions, meanwhile, were “flat” at 13 million for the period, the company said. even as the cost of developing content for the service increased. Total revenue rose 5.1% to $30.01 billion compared to $28.5 billion in the year-ago period as NBCU’s studios and theme parks added momentum to the company’s overall business.

“At Cable, we achieved our highest ever Adjusted EBITDA margin, even amid a unique and evolving macroeconomic environment that is temporarily putting pressure on our subscriber connection volumes,” Comcast CEO Brian Roberts said in a statement.

There’s more to come… Comcast sees broadband demand slowing in Q2 in a tougher economy

Charles Jones

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