How High-Speed Internet Saved Comcast's Dividend During the Pandemic
Comcast (NASDAQ: CMCSA) isn't exactly a beloved company among consumers, but it's doing just fine. High-speed internet is a staple, and migration to better web service has picked up in earnest during the pandemic this year. That has helped bridge what would otherwise have been a disaster for the media empire -- and made this a solid dividend stock still worth owning.
The summer months are an important stretch for media companies, and Comcast in particular was poised to have an especially busy one this year. But with its theme parks mostly idled, the Summer Olympics and other sporting events postponed, and new feature film releases pushed back on the calendar, Comcast had anything but a banner third quarter in 2020. Revenue fell 5% year over year to $25.5 billion, and adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) fell 11% to $7.6 billion.
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Source Fool.com
