Comcast revenue surges 21% YoY to reach $26.8B

Thursday, 24. October 2019 13:05

Comcast Corp. said on Thursday that its revenue for the third quarter of 2019 amounted to $26.8 billion, an improvement of 21.2% year-on-year. Philadelphia-based company's net income in Q3 rose by 11.5% and stood at $3.2 billion. Earnings per share (EPS) jumped 12.9% year-over-year in the three month period ending September and reached $0.7 while adjusted EPS were $0.79 after a rise of 16.2% compared to the Q3 year prior.

Meanwhile, Comcast net cash provided by operating activities lowered 13% to $5.1 billion and free cash flow stood at $2.1 billion amid 34% fall.

"We delivered excellent results in the third quarter, surpassing 55 million customer relationships and generating strong pro forma growth in adjusted EBITDA and double-digit growth in adjusted EPS. Cable had its highest third quarter broadband net additions in 10 years, which drove its best quarterly net additions in total customer relationships on record; NBC ranked #1 in primetime for the sixth consecutive 52-week season; and Sky’s channels had a 10% increase in household viewership," Chief Executive Officer of Comcast Brian L. Roberts underlined.

Comcast shares traded in the green after the results were released, rising 2.82% premarket on Thursday.

Related Links: Comcast Corp.
Author:
Breaking the News / GA