Comcast (NASDAQ: CMCSA) on Thursday reported quarterly earnings that beat Wall Street expectations but missed slightly on revenue.
The media giant's subscriber losses deepened during the third quarter, declining by 125,000, a key metric investors were watching. Matthew Strauss, executive vice president for Comcast's Xfinity services, said on Sept. 7 that the company expected to report a loss of 100,000 to 150,000 video customers.
Earnings per Share came in at 52 cents versus. 50 cents per share expected in a survey of analysts. Revenue was $20.98 billion vs. $21.04 billion expected in the survey. There was a loss in video customers of 125,000, as opposed to a loss of 136,000.
CEO Brian Roberts emphasized the performance of Universal Studios and NBC Universal this year, saying both businesses are humming.
"These are the best three quarters we've had at NBCUniversal since we bought the company," Roberts said, before adding that "Universal may have the best cash-flow year in its 100-plus year history."
He also said the NBC network has its biggest lead on any broadcaster in half a decade. The gap between first and second place is the widest it’s been in six years. "This is the fourth year in a row of NBC being in first," Roberts said.
The company announced several "smart-home" offerings in Augustamid a push to diversify beyond its cable options. The company wants to offer more services in the home to increase revenues and create more loyal customers
Shares began Thursday down eight cents to $36.75
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