Comcast eclipsed forecasts for profits in the third quarter, helped by blistering additions in broadband internet customers that offset an accelerating decline in its traditional television business.
The Philadelphia- based US cable giant reported adjusted earnings of 79 cents a share on sales of $26.8bn for the quarter. Analysts were looking for 75 cents on $27bn.
Comcast has relied on highspeed internet growth as it loses more cable television customers every quarter.
In the three months ending in
September, the company added 379,000 broadband subscribers, higher than the 330,000 analysts expected.
But the company bled 238,000 video subscribers — more than double the 106,000 video subscribers that had defected in the same period a year ago.
Sales at NBC Universal slipped to $8.3bn, down 3.5 per cent from a year ago, weighed by declines across cable and broadcast television as well as Universal’s film studio.
Comcast is joining the streaming wars with an upcoming service, named Peacock, set to debut early next year featuring NBC hits such as The Office and Parks & Recreation.
