Comcast's earnings drop 1.4% to $0.68 per share

Thursday, 25. July 2019 13:28

Comcast Corp. reported a rise in revenue by 23.6% year over year in the second quarter to $26.86 billion. The announcement released on Thursday reveals a decline in profit of 2.8% to $3.22 billion or 1.4% to $0.68 per share. The new owner of Sky News said the bottom line was impacted by the transaction executed late last year and added earnings before interest, tax, depreciation and amortization grew 17.5% on an adjusted basis to $8.7 billion, making earnings grow 13% to $0.78 per share. The cable operator advanced 0.85% in premarket trading.

"Each of our businesses demonstrated healthy growth in adjusted EBITDA, contributing to a double-digit increase in adjusted earnings per share. Our company’s consistent, profitable growth is fueled by our leading scale in direct customer relationships and premier content," said Brian Roberts, chairman and chief executive. He said the results are "terrific," highlighted the rise in contracts by a net 456,000 to 55 million in the quarter alone and vowed to pursue growth.

The management of NBCUniversal's parent declared a dividend of $0.21 per share for the next quarter compared to $0.19 from one year before.

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