Comcast beats revenue expectations as broadband growth offsets pandemic hit

Comcast Corp on Thursday reported second-quarter revenue that beat expectations, as strong sign-ups for broadband offset weaker advertising sales at cable networks and broadcast TV.

“The company is really trying to lean into streaming,” said Chief Executive Officer Brian Roberts on the earnings call. Roberts also said the pandemic “feels like a new normal, at least for the balance of this year.”

Shares were marginally down in the early trade. Excluding items, the company earned $0.69 per share, above analysts’ estimates of $0.55 per share.