Comcast Matches Profit Expectations, Beats On Revenue

By Tomi KilgoreMarketWatch Pulse

Media giant Comcast Corp. reported on Thursday second-quarter earnings that rose to $4.11 billion, or 84 cents a share, from $3.8 billion, or 76 cents a share, in the same period a year ago. That matched the FactSet consensus of 84 cents. Revenue grew 11% to $18.74 billion, beating the FactSet consensus of $18.14 billion, amid 6.3% growth in cable communications revenue and a 20% increase at its NBCUniversal unit. Cable networks revenue declined 1% to $2.5 billion, weighed down by a 26% decrease in content licensing and other revenue. Broadcast TV revenue declined 0.2%, while filmed entertainment sales nearly doubled and theme parks revenue rose 26%. "In Cable, high-speed Internet and business services continued to perform extremely well, and, significantly, this was the best second quarter video customer results we've had in nine years," said Chief Executive Brian Roberts. "NBCUniversal had an exceptional quarter, led by the record-breaking box office performances of Jurassic World and Furious 7 and continued strong momentum in our theme parks." The stock, which was indicated lower in light premarket trade, has climbed 8.9% over the past three months, while the S&P 500 has ticked up 0.1%.

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