PHILADELPHIA—While cord cutting continues to plague Comcast, the nation’s largest cable TV provider reported higher Q1 2023 profits driven by its broadband and theme park divisions.
The company said it lost 614,000 video subscribers during the quarter, an increase from the 444,000 it reported in Q4 2022. Paid subscriptions to its Peacock streaming service increased 2 million to 22 million total in Q1, which represents a 60% increase year over year. Peacock’s revenues also were up 45% to $685 million, however it reported a loss of $704 million, a decrease from the $978 million it reported in Q4.
