Comcast misses on revenue, beats on profit
Details
Michelle Clancy
| 26 July 2019

US cable giant Comcast has reported mixed earnings for its second quarter, beating estimates on profit at 78 cents per share, the fourth consecutive quarters it has done so, but missing on revenue, which came in at $26.86 billion.

Traditional cable video subscriber losses increased at Comcast Cable in the second quarter to 224,000, up from about 140,000 in the prior year, but gains in broadband and wireless customers offset the loss.

Sky, the British broadcaster it acquired last year, saw a 4.4% year-over-year uptick in customers to reach 24 million. Sky however only saw $4.83 billion in revenue, a 3.3% decrease from the second quarter of 2018 – which Comcast said was due to currency exchanges.

Cable networks, when factoring out the Olympics, accounted for $2.95 billion in total revenue, a 2.5% increase from the year-ago quarter. Its broadcast television revenue, excluding the Olympics and the Super Bowl, came in at $2.40 billion, a 0.5% gain from a year earlier.

Filmed entertainment brought in $1.46 billion in total revenue for Comcast, a 14.8% decrease from the previous year.