Comcast beats quarterly revenue estimates fueled by broadband demand

Comcast Corp on Thursday reported quarterly revenue ahead of Wall Street estimates, buoyed by steady demand for its internet and wireless services due to remote work despite pandemic-related weakness in its theme park and film businesses.

Revenue for the fourth-quarter rose 2.2% from a year earlier to $27.21 billion, beating analysts’ estimates of $26.70 billion, according to IBES data from Refinitiv.

The media company gained 461,000 broadband customers in the quarter, topping analysts’ average estimate of 396,000 net additions, according to research firm FactSet. It lost 491,000 video customers in the quarter, more than the 418,000 Wall Street expected, according to FactSet.