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Comcast reports higher revenue, profit despite drop at NBCU

Comcast Corp. on Oct. 24 reported a 21.2% year-over-year gain in revenue for the third quarter to $26.83 billion, up from $22.14 billion in the prior-year period.

Net income attributable to Comcast was $3.22 billion, or 70 cents per share, compared to $2.89 billion, or 62 cents per share, in the year-ago quarter. The S&P Global Market Intelligence consensus GAAP estimate for the quarter was 67 cents per share.

Adjusted EBITDA for the period was $8.55 billion, an increase of 17% from $7.31 billion, a year ago. For the quarter, total customer relationships increased 3.4% year over year to 31.2 million, including net additions of 309,000 in the quarter.

On the cable side, the company reported total high-speed internet customer net additions of 379,000, while video customer net losses totaled 238,000.

In addition, quarterly revenue for NBCUniversal Media LLC dropped 3.5% to $8.30 billion from $8.60 billion in the year-ago quarter.