Comcast (NASDAQ:CMCSA) on Thursday reported third-quarter earnings that beat analyst estimates on the top and bottom lines.
Comcast also reported better-than-expected net customer additions for high-speed internet service and further growth to its new streaming service, Peacock.
NBCUniversal’s Peacock now has nearly 22 million sign-ups. The service, which offers free and paid options, had 10 million sign-ups when Comcast last reported earnings in July.
Comcast said in its report that Peacock is “proving to be a differentiating factor for customers considering Xfinity broadband and is also improving churn.”
The company reported its best quarterly customer results in its history, adding more than 633,000 high-speed internet customers. Cable added more broadband customers in the first nine months of the year than in all of 2019, Comcast reported, including nearly one million customers in the second and third quarters.
Comcast said its Europe-based Sky division has continued to add higher-priced customers and reduce churn. Its quarter was strengthened in part by the return of sports, including record Premier League viewership on Sky Sports.
Comcast’s theme parks business, which is part of its NBCUniversal division, has suffered the most during the pandemic as closures and capacity restrictions strain revenue.
Theme park revenue fell nearly 81% to $311 million, according to the report. Comcast said that excluding theme parks, NBCUniversal earnings before interest, taxes, depreciation and amortization grew by 9% year over year.
Shares added 58 cents, or 1.4%, to $42.56.
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