Comcast Corporation (NASDAQ:CMCSA, ETR:CTP2) share price fell 1.4% in premarket trading after reporting weak performance in its studio and theme park operations.
Its Peacock streaming service and a smaller-than-expected loss in broadband customers surprised on the upside.
However, revenue from the studio business dropped 27%, contributing to a 2.7% decline in total revenue to $29.69 billion, falling short of consensus, which was around $30 billion.
The theme park division also saw a 10.6% decrease in revenue as the post-pandemic visitor surge waned. Comcast is banking on Epic Universe, featuring attractions like Super Nintendo World and How to Train Your Dragon-Isle of Berk, to boost its parks business. However, the launch has been delayed to 2025.
While earnings were around 9 cents above the Street's estimates at $1.21, the shares were trading down 55 cents ahead of the bell at $39.53.