Comcast (NASDAQ: CMCSA) on Thursday revealed third-quarter earnings and revenue that exceeded expectations, as did closely watched data on new high-speed internet customers.
Earnings per share came in at 79 cents, as opposed to the expected 75 cents. Revenue also narrowly beat expectations, proving to be $26.83 billion versus the forecast $26.77 billion.
This marks the fifth consecutive quarter for which Comcast has exceeded analysts’ earnings estimates. Shares of the stock have climbed more than 34% this year.
Comcast also surpassed analysts’ expectations for high-speed internet customers, reporting 379,000 compared with expectations of 344,000.
Theatrical revenue for NBCUniversal slumped 8.8% from a year earlier. The company blamed the decline on the strength of film releases in last year’s third quarter, including "Jurassic World: Fallen Kingdom" and "Mamma Mia! Here We Go Again." Comcast noted the decline was partially offset by the release of "Fast & Furious Presents: Hobbs & Shaw" during the third quarter.
The company said Sky, the British broadcaster acquired in September, saw its customer relationships increase 2.1% year over year to 23.9 million. Sky brought in $4.6 billion in revenue for the quarter, a 4.2% decrease from a year earlier. Comcast blamed the impact of currency fluctuations for the change.
The earnings report was Comcast’s first since the official announcement of its new streaming service, "Peacock." The ad and subscription-supported service is slated to roll out in April with a packed content slate
Shares gathered 34 cents to $46.06
Tech Insider
