Comcast has reported a 14.4 percent decrease in capital expenditures, totaling $2.3 billion during the first-quarter of 2025.
Comcast said it increased converged broadband and wireless footprint with 275,000 new passings of homes and businesses in the first-quarter of 2025.
Connectivity & Platforms’ capex dropped 13.8 percent to $1.6 billion, largely due to reduced investments in customer premise equipment and scalable infrastructure.
Content & Experiences’ capex declined 10.8 percent to $602 million as construction of the Epic Universe theme park nears completion ahead of its May 22, 2025, opening.
Comcast’s total revenue for the first quarter stood at $29.89 billion.
Residential Connectivity & Platforms generated $17.642 billion in revenue, down 1 percent, with contributions of $6.558 billion from Domestic Broadband, $1.123 billion from Domestic Wireless, $1.132 billion from International Connectivity, and $6.718 billion from Video.
The decline in video, advertising, and other revenues was offset by gains in broadband, wireless, and international services, largely driven by higher average rates and increased customer lines.
Business Services Connectivity revenue rose 3.7 percent to $2.496 billion due to growth in enterprise solutions and small business adoption of advanced services.
Despite these gains, Comcast reported a net loss of 199,000 broadband customers, up from a 139,000 decline in Q4 2024, amid aggressive competition from bundled mobile-internet offerings by wireless carriers.
In response, Comcast introduced new broadband pricing plans with five-year price locks in April.
The total number of broadband customers at the end of March was 31.643 million as compared with 32.188 million in December 2024. Comcast has 29.19 million residential broadband customers and 2.453 million business broadband subscribers. Comcast has 12.096 million video customers.
Studio revenue of Comcast rose 3 percent to $2.83 billion, buoyed by the performance of “Wicked” and “Nosferatu.”
Peacock has narrowed its adjusted core loss to $215 million from $639 million a year prior and grew paid subscribers to 41 million, aided by a distribution deal with Charter Communications.
Theme park revenue of Comcast dropped 5.2 percent to $1.88 billion, impacted by Los Angeles wildfires in January, though the upcoming Epic Universe launch with over 50 attractions is expected to drive future growth.
“Our connectivity businesses generated 4 percent revenue growth, fueling expansion in C&P EBITDA margins to 41.4 percent. 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 percent,” Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said in the earnings report.
TelecomLead.com News Desk
