Comcast Reports Strong Q2 Earnings, NBCUniversal Bounces Back

Comcast Reports Strong Q2 Earnings, NBCUniversal Bounces Back
Comcast reported strong Q2 2021 earnings on Thursday that exceeded Wall Street’s expectations, sending the conglomerate’s stock upwards.

A key component in Comcast’s positive earnings was NBCUniversal, which posted a 39 percent increase in earnings from Q2 2020. Though much of that gain is due to Covid-related revenue depressions last year, the reported gains at NBCUniversal and its corporate owner nonetheless surpassed expectations. Comcast posted revenue of $28.55 billion versus the $27.18 billion in revenue expected by Wall Street, according to Refinitiv data obtained by CNBC.

The positive financial news caused Comcast’s stock to rise around 0.22 percent at press time.

NBCUniversal’s major film releases in the quarter included “F9,” the latest film in the “Fast & Furious” franchise, as well as “The Boss Baby: Family Business.” The company’s studio revenue increased from 8.4 percent to $2.2 billion and NBCUniversal stated that the gains were primarily from higher theatrical revenue. As with the company’s overall gains,
See full article at Indiewire »

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