Comcast (CMCSA) jumps after topping q1 estimates, Peacock subscribers rise over 60%

Telecommunications and media giant Comcast (NASDAQ: CMCSA) is gaining premarket Thursday after it delivered a strong first quarter, topping earnings and revenue expectations.

The company posted Q1 EPS of $0.92, $0.10 better than the analyst estimate of $0.82, with revenue for the quarter coming in at $29.69 billion versus the consensus estimate of $29.34 billion.

Comcast shares are up more than 4% at the time of writing, at $38 per share.

CMCSA explained that revenue decreased 4.3% YoY due to an unfavorable comparison to the prior year period, which included its broadcasts of the Beijing Olympics and the NFL's Super Bowl.

The company's Peacock subscription service increased paid subscribers in the US by more than 60%, with revenue for the service rising 45% to $685 million.

"We delivered strong first quarter results as our team executed exceptionally well," said Brian Roberts, Chairman and Chief Executive Officer of Comcast Corporation. "Importantly, we had solid revenue growth in our high-margin connectivity businesses while increasing our Peacock subscribers more than 60% year-over-year. Our theme parks set a new record of Adjusted EBITDA for a first quarter."

By Sam Boughedda

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