Comcast sees 12.5% dip in Q1 net income

Comcast Corporation has posted a 12.5% decrease in net income for the first quarter. While adjusted Net Income was consistent with the prior year period, adjusted EBITDA has increased 1.9%.

The corporation's revenue from advertising has slipped by 7% to $881 million from the same quarter last FY.

Total Revenue stands at $17,642 million compared to the corresponding quarter last year's $17,868 million.

The company has said in its financial statement: “We had strong financial results in the first quarter, growing Adjusted EPS mid-single digits and generating $5.4 billion of free cash flow while investing in our six growth businesses and returning $3.2 billion to shareholders," said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation. "Our connectivity businesses generated 4% revenue growth, fueling expansion in C&P EBITDA margins to 41.4%. We also achieved our highest wireless line additions in two years and have outperformed in Business Services with mid-single digit revenue and EBITDA growth and margins of roughly 57%. At the same time, momentum in streaming continues with 21% growth in Media EBITDA; and Theme Parks remain on an incredible growth trajectory. We could not be more excited for the grand opening of Epic Universe in Orlando next month and our plans to bring a new world-class theme park to the UK. With our significant free cash flow generation, disciplined approach to capital allocation and the strength of our diversified businesses, I am confident that we are well-positioned to navigate an evolving environment and capture future opportunities."

The platform's total domestic broadband customer has reduced by 199,000.