Comcast revenue tops estimates amid cord-cutting, muted broadband growth

Comcast Corp’s fourth-quarter revenue beat Wall Street expectations on Thursday, as the media company saw continued demand at its theme parks and experienced modest gains in broadband subscribers outside of regions hit by Hurricane Ian.

Total revenue rose 0.7% to $30.55 billion in the quarter. That beat analysts’ estimates of $30.32 billion, according to Refinitiv data.

A broader recovery in outdoor entertainment, coupled with an uptick in ad spending on its networks during the soccer World Cup and U.S. elections in November, helped boost the company’s revenue.