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Investing.com -- Comcast (NASDAQ: CMCSA) saw its shares tumble 5% in premarket trading Thursday after the media giant reported a sharp drop in domestic broadband subscribers for the first quarter, missing analyst expectations.
The company posted Q1 earnings per share (EPS) of $1.09, trumping the consensus estimate of $0.99. Revenue came in at $29.89 billion, slightly ahead of the $29.8 billion consensus projection.
Operating cash flow for the quarter totaled $8.29 billion, beating forecasts of $7.6 billion.
Adjusted EBITDA came in at $9.53 billion, up 1.9% year over year and ahead of the $9.15 billion estimate.
Free cash flow rose 19% from a year ago to $5.42 billion, well above the projected $4.06 billion.
In the broadband segment, Comcast lost 199,000 domestic subscribers, a steeper decline than the 144,173 expected and compared with a loss of 65,000 in the same quarter last year.
The company added 323,000 domestic wireless lines, up 12% from a year earlier and ahead of the 295,026 forecast.
Video subscriber losses totaled 427,000, slightly worse than the estimated 409,000.
“We had strong financial results in the first quarter, growing Adjusted EPS mid-single digits and generating $5.4 billion of free cash flow while investing in our six growth businesses and returning $3.2 billion to shareholders," said Brian L. Roberts, Chairman and CEO of Comcast Corporation (NASDAQ:CMCSA).