Earnings 2020 on the Internet. Comcast reports strong internet customer growth, 10 million sign-ups for Peacock

Comcast Earnings Show Surging Demand for High-Speed Internet

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May 4, at AM Author Bio Nicholas has been a writer for the Motley Fool sincecovering companies primarily in the consumer goods and technology sectors. He enjoys the outdoors up and down the West Coast with his wife and their Humane Society-rescued dog.

Comcast earnings beat analyst estimates on the top and bottom lines.

Per usual, new high-speed internet subscribers more than offset red ink elsewhere. The situation with coronavirus didn't really get rolling until late in the first quarter, though, which means investors can safely assume most of the pain will be absorbed during the quarter that's currently under way.

Nevertheless, even with COVID and the ensuing lockdown wreaking havoc on the economy, the internet is more important than ever before.

earnings 2020 on the Internet

Thus, Comcast remains in good shape to be able to weather the storm. Image source: Getty Images.

Comcast Reports 2nd Quarter Results | Comcast Corporation

Adjusted net income and adjusted earnings per share fell 6. Free cash flow fell NBC Universal and Sky were the main culprits.

It's the first earnings report since Comcast's NBCUniversal launched its new ad-supported streaming service, Peacock, which has seen 10 million sign-ups since its launch.

With movie theaters around the globe shuttered and Universal Studios resorts on a temporary hiatus, there were no surprises there. The latter experienced a 5.

earnings 2020 on the Internet

Not great numbers for Comcast, and with the film and theme park segments still facing negligible sales until shelter-in-place orders are eased, the second-quarter report is going to be even uglier. And while cable TV and landline phones are a serious headwind, high-speed internet and wireless phones powered by Verizon's network came through to save the day once more.

earnings 2020 on the Internet

High-speed internet in particular was a bright spot with thenet additions excluding free accounts given away to help those earnings 2020 on the Internet need being the best in 12 years.

High-speed web customers grew 5.

earnings 2020 on the Internet

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