Cable giant Comcast, led by chairman and CEO Brian Roberts, on Thursday reported lower earnings for entertainment unit NBCUniversal for the first quarter as the novel coronavirus pandemic started hitting TV advertising revenue and the firm's theme parks unit.
Parent company Comcast in its earnings report predicted a bigger impact in the current second quarter, saying:"Our Cable Communications results, while strong in the first quarter 2020, will be negatively affected in the second quarter by the significant deterioration in domestic economic conditions in recent weeks and by the costs associated with our support of customer connectivity as the population increasingly works and learns remotely from home.