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Jul 26, 2018

Comcast earnings Q2 2018 I Breaking News I CNBC

cnbc.com

Comcast earnings Q2 2018

Sara Salinas


Brian Roberts, CEO of Comcast Justin Sullivan | Getty Images
Brian Roberts, CEO of Comcast
Comcast reported mixed quarterly results Thursday, beating Wall Street estimates on earnings but falling short on revenue.
Here's how the company did compared with what Wall Street forecast:
  • Earnings: 65 cents per share vs. 60 cents per share forecast by Thomson Reuters
  • Revenue: $21.74 billion vs. $21.86 billion forecast by Thomson Reuters
  • Net increase of 260,000 high-speed internet customers vs. 195,000 forecast by FactSet consensus estimates
Shares of Comcast rose almost 2 percent in premarket trading following the report.
The report comes on the heels of a busy quarter of evolving M&A strategy for media giant, which owns CNBC parent NBCUniversal. Comcast has been in bidding wars for U.K. broadcaster Sky and 21st Century Fox assets, but last week abandoned its bid for Fox.
Comcast's pursuit of new media assets comes amid consistent declines in video customers for the last four quarters, according to FactSet.
Last quarter, though, NBCUniversal posted the strongest revenue growth, bolstered by NBC's coverage of the 2018 Winter Olympics and the Super Bowl.
Wall Street revenue projections for the second quarter without those one-time boosts represent a 3 percent year-over-year upside. Earnings per share estimates represent a 16 percent increase from the year-earlier quarter.
Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC and CNBC.com.
This is breaking news. Please check back for updates.