Comcast Reports 1st Quarter 2023 Results

Comcast reported results for the quarter ended March 31, 2023. The company reported that its domestic broadband average rate per customer increased by 4.5%, driving domestic broadband revenue growth of 4.8% to $6.3 billion. Total domestic broadband customer net additions were 5,000, total domestic wireless line net additions were 355,000, and total domestic video customer net losses were 614,000. Residential connectivity revenue increased, driven by domestic broadband, domestic wireless, and international connectivity revenue growth. Domestic broadband revenue increased primarily due to an increase in average rates. Domestic wireless revenue increased due to an increase in the number of customer lines and device sales. International connectivity revenue increased due to an increase in wireless revenue, reflecting higher sales of devices and wireless services, and an increase in broadband revenue, partially offset by the negative impact of foreign currency.