Comcast Posts Mixed Q2 Numbers
Comcast CEO Brian Roberts’s big focus this year is getting bigger by convincing regulators to let him swallow Time Warner Cable. In the meantime, he still has to please Wall Street with quarterly numbers.
Let’s see what they think of his Q2, which beat earnings estimates but missed on revenue: After accounting for one-time costs, Comcast earned 75 cents a share on revenue of $16.8 billion; analysts had expected 72 cents and $16.95 billion.
The country’s biggest cable company lost 144,000 video subscribers during the quarter, but it considers that a victory, since it often sees those numbers shrink in Q2, and the losses were smaller than the 162,000 subscribers it lost a year ago. Meanwhile, the company added 203,000 broadband customers — its best second-quarter number in six years.
Comcast saw revenue from video business increase 1.2 percent. Its overall cable operations, including broadband, increased 5.4 percent, to $11 billion.
Comcast owns NBCUniversal, which is a minority investor in Revere Digital, parent company of Re/code.