Market Overview

UPDATE: Comcast Posts Higher Q2 Profit

Related CMCSA
American Spending Is Great News For ETFs
Here Come The Net Neutrality Lawsuits...
NBC sets 'The Wiz' as next live musical event (Seeking Alpha)

Comcast (NASDAQ: CMCSA) reported a 15% rise in its second-quarter profit.

Comcast lost 144,000 video customers in the quarter, versus a loss of 162,000 customers in the year-earlier period.

Comcast posted a quarterly profit of $1.99 billion, or $0.76 per share, versus a year-ago profit of $1.73 billion, or $0.65 per share. Excluding gains on sales- and acquisition-related items, its adjusted profit came in at $0.75 per share.

Its revenue rose 3.5% to $16.84 billion. However, analysts were expecting a profit of $0.72 per share on revenue of $16.95 billion.

The company added 203,000 broadband subscribers in the quarter, versus an addition of 187,000 subscribers in the year-ago period. It also added 137,000 voice-subscribers, versus 161,000. Broadband revenue gained 9.7%, while business services revenue rose 22%.

Comcast's revenue at the cable communications jumped 5.4% to $11.03 billion, while operating cash flow gained 5.3% to $4.56 billion. Its residential video revenue gained 1.2%.

Its revenue at the broadcast-TV segment rose 4.9%. Total revenue at NBCUniversal climbed 0.3%, while operating cash flow surged 20.4%.

Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, “We continue to see strong momentum across our cable and content businesses.”

Comcast shares closed at $53.82 yesterday.

Posted-In: profitEarnings News


Related Articles (CMCSA)

Around the Web, We're Loving...