Comcast easily clears profit hurdle, but stock dips after earnings

Comcast Corp. notched a sizable profit beat in the third quarter as it continued to rack up new wireless customers but shed subscribers in its video business.

Revenue increased to $30.12 billion from $29.85 billion, whereas analysts were modeling $29.69 billion.The company generated $20.27 billion in revenue from its connectivity and platforms business, up from $20.05 billion a year before. The FactSet consensus was for $20.07 billion for this unit, which houses the company’s cable business.

The company shed a net of 490,000 video customers to bring its count of total domestic video customers to 14.50 billion.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Microsoft CEO says company could have made Windows Phone workAnam Hamid is a computer scientist turned tech journalist who has a keen interest in the tech world, with a particular focus on smartphones and tablets. She has previously written for Android Headlines and has also been a ghostwriter for several tech and car publications.
Source: PhoneArena - 🏆 322. / 59 Read more »