Comcast (NASDAQ:CMCSA) fluctuated in morning trades as the largest U.S. cable operator and high-speed Internet provider reported mixed results for the third quarter.
Shares fell 0.5% to $61.88 at 9:37 a.m. in New York.
Net income decreased 23% to $2bn, or $0.80 per share, from a year earlier, the Philadelphia, Pennsylvania-based company said in a statement on Tuesday.
Stripping out items, profit was up 9.6% from a year ago, also at $0.80 per share, in line with the average estimate of 25 analysts polled by Capital IQ.
Revenue jumped 11% to nearly $18.7bn during the third quarter, driven by growth in its high-speed Internet and film businesses. That topped the Wall Street consensus of $18.03bn.
The company said 48,000 video users quit from July through September, an improvement over a year earlier when it lost 81,000 subscribers.
Revenue from the company’s high-speed Internet business rose 10% to $3.1 billion in the quarter, and Internet customer additions rose 1.5% to 320,000.
Business services revenue surged 19.5% to $1.21bn.
At NBCUniversal, revenue climbed 21% to $7.2bn, buoyed by strong growth at the filmed entertainment division and theme parks.