Comcast posted second-quarter earnings that exceeded analysts’ expectations. The telecom giant also reported a record-high figure for new broadband subscribers for the quarter.
The company’s adjusted earnings for the quarter came in at 84 cents, compared to the 67 cents expected by analysts polled by Refinitiv.
Revenue of $28.55 billion also beat the $27.18 billion expected by analysts per the Refinitiv survey.
Comcast garnered 354,000 net new high-speed internet customers, vs. 270,000 net adds expected in a StreetAccount survey. The net adds were its highest ever for a second-quarter performance, according to the company.
Revenue from Comcast’s cable revenue business rose +10.9% year-over-year to $16 billion.
Media business increased +25.7% to $5.1 billion. NBCUniversal revenue increased +39.2% year-over-year to $8 billion.
Studios revenue increased +8.4% year-over-year to $2.2 billion.
Revenue from Theme parks was $1.1 billion, gaining $958 million.