- Comcast (NASDAQ:CMCSA) is off 0.5% after a Q3 report where EPS came in ahead of expectations but revenues missed slightly and video subscribers dropped as cord-cutting continues apace.
- Revenue fell 1.6%, but the company noted that excluding last year's Rio Olympics (which had an impact of $1.485B), revenue would have increased 5.8%. EPS, meanwhile, increased 13% on an adjusted basis.
- In Cable Communications, revenues were up 5.1% to $13.2B, while at NBCUniversal, revenues fell 12.7% to $8.01B, again largely due to tough comps against the Rio Olympics.
- Cable Communications revenue breakout: Video, $5.83B (up 4.2%); High-speed Internet, $3.7B (up 8.9%); Voice, $840M (down 4.5%); Business Services, $1.575B (up 12.6%); Advertising, $542M (down 13.2%); Other, $712M (up 7.8%).
- NBCUniversal revenue breakout: Cable networks, $2.6B (down 11.5%); Broadcast television, $2.13B (down 30.9%); Filmed Entertainment, $1.78B (down 0.5%); Theme Parks, $1.55B (up 7.7%).
- Total customer relationships rose by 115,000 to 29.1M (residential relationships up 83,000, business relationships up 31,000). It lost a net 125,000 video customers and lost a net 94,000 voice customers, while high-speed Internet saw net adds of 214,000 and security/automation net adds were 51,000.
- Net cash from operations was $5.1B; free cash flow came to $2.3B.
- Press Release
- Now read: Comcast Corporation 2017 Q3 - Results - Earnings Call Slides
Original article