Cable-and-entertainment giant Comcast said first quarter net income fell nearly 40%, as the effects of the coronavirus pandemic crimped its theme parks, movie studio and advertising businesses, eve…
pandemic crimped its theme parks, movie studio and advertising businesses, even as U.S. consumers boosted its cable and broadband operatoins.and Sky saw a profit of $2.15 billion for the first quarter, down nearly 40% from $3.55 billion a year earlier. Adjusted for one-time items, Comcast saw first quarter profit of $3.27 billion, a 6% drop from last year’s quarter.
“All the divisions of our company are in constant communication, and the level of collaboration has been extraordinary. We have a strong balance sheet, terrific portfolio of assets, and a world-class management team,” said, chairman and CEO of Comcast, in a prepared statement.
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