Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Comcast Q3 earnings, revenue boosted by London Olympics

Comcast Q3 earnings, revenue boosted by London Olympics

 

Telecommunications giant Comcast Corp. (NASDAQ:CMCSA) Friday said that third-quarter profits and revenues rose, benefiting from the London Olympics and growth in its cable business.

Shares of the company rose 2.67 per cent on the news, trading at $37.32 as at about 9:50 a.m. EDT.

For the quarter that ended September 30, the company said net earnings rose to $2.1 billion, or 78 cents per share, compared to $908 million, or 33 cents per share, in the third quarter 2011. 

Excluding a 20 cent per share gain related to its share of SpectrumCo.’s sale of wireless spectrum licenses and a 12 cent per share gain on the sale of NBCUniversal’s interest in A&E Television Networks, earnings per share increased 39.4 per cent to 46 cents in the third quarter.

Revenue rose 15.4 per cent to $16.5 billion, from $14.3 billion in the year-ago quarter.

Analysts polled by Thomson Reuters expected a per-share profit of 46 cents, on $16.08 billion in sales for the quarter.

The broadcaster’s cable communications unit posted $9.97 billion in sales, up 6.9 per cent from $9.3 billion in revenue last year. 

The cable and high-speed internet broadcast company attributed the rise to an 8.8 per cent increase in high-speed internet, a rise of 33.6 per cent in its business services unit, an increase of 2.7 per cent in the video unit, and a 23.5-per-cent increase in its advertising unit. 

In the quarter, high-speed internet customers rose to 19 million, up from 17.8 million, a year-earlier. Voice customers totalled 9.7 million, up from 9.1 million.

Revenue at NBCUniversal, a subsidiary of Comcast, increased 31.2 per cent to $6.8 billion in the third quarter, compared to $5.2 billion in the year-earlier period, primarily driven by 2012 London Olympics revenue of $1.2 billion in the broadcast television segment, the company said. 

Excluding the Olympics, NBCUniversal revenue increased 8.3 per cent.

Cable networks revenue increased 3.2 per cent to $2.2 billion, reflecting a 5.7-per-cent increase in distribution revenue and flat advertising revenue. 

Revenue in the broadcast television division jumped up 83.8 per cent to $2.8 billion, including $1.2 billion of revenue generated by the Olympics. Excluding the Olympics, Comcast said revenue increased 5.2 per cent.

Its filmed entertainment segment revenue increased 23.6 per cent to $1.4 billion due to higher theatrical revenue from the strong box office performance of Ted and The Bourne Legacy. 

Comcast shelled out $750 million to repurchase 22.9 million shares of its own stock. The company has about $4.25 billion remaining under its share buyback program.

 

View full CMCSA profile View Profile

Comcast Timeline

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use