Comcast third quarter earnings topped analysts’ expectations, while the company added a few thousand net new internet subscribers.
The telecom company’s adjusted earnings came in at 96 cents, beating the 90 cents expected by analysts polled by FactSet. The figure is also higher than the year-ago quarter’s 87 cents a year.
Overall net loss for the third quarter was -$4.6 billion, or -$1.05 a share, (amidst $8.6 billion in impairment charges related to the company’s Sky pay-TV business). The company had reported a net income of $4 billion, or 86 cents a share in the year-ago quarter.
Revenue fell to $29.8 billion (from $30.3 billion in the year-ago quarter), but was slightly above the FactSet consensus of $29.6 billion.
Comcast had 10,000 net subscriber gains in its residential broadband business and 5,000 net gains in its business broadband business, following a net of no new internet subscribers in aggregate during the second quarter.