Comcast's (CMCSA) Q3 Results Mixed Despite Strong Sub Adds; Stock Moving Higher
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Price: $37.87 -5.82%
Revenue Growth %: +1.2%
Financial Fact:
Amortization: 530M
Today's EPS Names:
FRSB, DGICA, UXIN, More
Revenue Growth %: +1.2%
Financial Fact:
Amortization: 530M
Today's EPS Names:
FRSB, DGICA, UXIN, More
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Comcast (Nasdaq: CMCSA) shares have just opened about 3.7 percent higher following strong third-quarter results issued earlier Wednesday morning.
Proforma revenue for the broadcasting giant rose 4.9 percent from $13.670 billion in the third quarter of 2010 to $14.339 billion. Analysts were expecting sales of $14.24 billion.
Cable Communications pro-forma revenue increased about 5 percent to $9.331 billion. NBCUniversal revs rose 4.6 percent to $5.2 billion.
Net income in the quarter increased 4.7 percent to $908 million, or 33 cents per share. Adjusting for certain items netted earnings of 38 cents per share. The Street was looking for a quarterly gain of 40 cents per share.
Comcast posted a 6.7 percent jump in operating cash flow.
In the third quarter, combined video, high-speed internet and voice customers increased by 229,000, a 13.4 percent increase compared to third quarter of 2010's net additions.
"I am pleased to report strong performance across key financial, operational and product areas. Cable had an outstanding quarter, led by continuing strength in high-speed Internet and business services," commented CEO Brian Roberts. "This marks the fourth consecutive quarter of improving customer metrics, including increased year-over-year high-speed Internet customer additions."
Proforma revenue for the broadcasting giant rose 4.9 percent from $13.670 billion in the third quarter of 2010 to $14.339 billion. Analysts were expecting sales of $14.24 billion.
Cable Communications pro-forma revenue increased about 5 percent to $9.331 billion. NBCUniversal revs rose 4.6 percent to $5.2 billion.
Net income in the quarter increased 4.7 percent to $908 million, or 33 cents per share. Adjusting for certain items netted earnings of 38 cents per share. The Street was looking for a quarterly gain of 40 cents per share.
Comcast posted a 6.7 percent jump in operating cash flow.
In the third quarter, combined video, high-speed internet and voice customers increased by 229,000, a 13.4 percent increase compared to third quarter of 2010's net additions.
"I am pleased to report strong performance across key financial, operational and product areas. Cable had an outstanding quarter, led by continuing strength in high-speed Internet and business services," commented CEO Brian Roberts. "This marks the fourth consecutive quarter of improving customer metrics, including increased year-over-year high-speed Internet customer additions."
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