Comcast (NASDAQ:CMCSA) Corp reported a modest rise in third-quarter profit, boosted by record earnings at its Theme Parks.
The telecoms and media giant said revenue in the third quarter rose 0.9% to $30.11 billion from $29.85 billion the year before while adjusted net income climbed 6.2% to $4.49 billion from $4.22 billion.
Adjusted EPS rose 12.5% to $1.08 from $0.96.
Brian Roberts, chairman and chief executive officer said: “We delivered another quarter of double-digit adjusted EPS growth, continued to generate solid revenue growth in our connectivity businesses and expanded our adjusted Ebitda margin at Connectivity & Platforms.”
“We also reported the highest adjusted Ebitda on record at Theme Parks; drove Oppenheimer to more than $900 million in worldwide box office – becoming the highest grossing biopic of all time; and materially improved Peacock paid subscriber and financial metrics compared to the prior year period as well as on a sequential basis."
Connectivity & Platforms adjusted Ebitda increased 3.0% to $8.2 billion, while Theme Parks adjusted Ebitda jumped 20% to $983 million, its highest ever, driven by the popularity of Super Nintendo World in Universal Studios Hollywood.
NBCUniversal’s flagship streaming service Peacock added 4 million subscribers and revenue increased 64% to $830 million, stemming the subscription service’s quarterly loss to $565 million.
Peacock lost $614 million in the same period a year prior on $506 million in revenue.