Comcast Corporation (NASDAQ:CMCSA) saw a rise in revenue in the third quarter, once the impact of the 2016 Olympic Games is stripped out.
The NBC network owner and cable systems operator said consolidated revenue in the three months to the end of September fell 1.6% from a year earlier, when the Rio Olympics was in full flow.
Adjusting for the effects of the 2016 Olympiad, revenue was up 5.8%.
The group adjusted earnings per share rose 13.0% year-on-year to 52 cents.
“Adjusted EBITDA [underlying earnings] increased 5% despite the impact of the severe storms that affected our operations this year and the uneven comparison due to the Rio Olympics last year,” said Brian Roberts, who is both chairman and chief executive of Comcast.
“At NBCUniversal, our momentum continued throughout each business unit, including terrific results at Theme Parks and Film, and strength in affiliate fees, retransmission revenues, and content licensing at our TV businesses.
“At Cable Communications, we continued to drive growth in total customer relationships, deliver excellent high-speed Internet and business services results and make further progress in our efforts to transform the customer experience.
“Across Comcast NBCUniversal, we are uniquely positioned with a broad range of growth opportunities that set us up well for the future,” he added.
The market was less than convinced, with the shares opening 2.6% lower at US$35.87.