U.S. consumers are cutting their cable TV cords in ever increasing numbers, but the country’s biggest cable provider is doing just fine.
Comcast may have lost 238,000 cable subscribers in the third quarter, but the telecom company posted earnings per share of 79 cents, a 16.2% percent increase over last year, while revenue rose 21.2% to $26.83 billion, exceeding Wall Street expectations. Shares rose by more than 2% in pre-market trading.
Investors cheered the company’s news, especially of its internet business: in the quarter, Comcast added 379,000 subscribers to its high-speed Xfinity internet service. Meanwhile the company’s entertainment arm, NBCUniversal saw revenue fall 3.5% to $8.
“Subscribers are in decline, everyone is losing subscribers and focused more on profitability,” says analyst Rich Greenfield, a founder of LightShed Partners. “Investors care about the opportunity to layer more services onto broadband, including Peacock.” Peacock will launch in April. It will be distributed by Xfinitiy and will be available to purchase separately. The streamer will launch with about 15,000 hours of content—50% more than rival AT&T’s HBO Max from WarnerMedia—and will be supported by both advertisements and subscriptions. and
Yeah, because they keep ripping me off. I have to pay an extra $50 a month just to go over their low artificially set data usage ceiling. You get fast bandwidth, but they set a low ceiling to how much. I can’t wait to leave them, but they currently have a monopoly in my area.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla's stock is surging but some analysts found real problems with its earnings reportShares of Tesla are surging after the company reported a surprise profit, but a closer look at the numbers may suggest a cause for concern. If you Looking for a professional expert photo editor ? I will do professional photoshop editing in 5$ Please Contact Me: MAMAVOTE SheikhHasina BiggBoss13 investment cryptocurrency Of course GREEDY BIG OIL CARTEL ANTI-CAPITALIST CNBC FRAUDS WOULD FIND SOMETHING NEGATIVE IN A PROFIT, ONLY IF IT IS SOMEONE OR A COMPANY THEY HATE LIKE TESLA THAT COMPETES WITH OIL/GASOLINE cnbc. is always wrong and how I've made my progress in stocks.
Source: CNBC - 🏆 12. / 72 Read more »
Chips On the Table: Intel And Advanced Micro Devices Set To Report Q3 EarningsTwo major players in the chip industry—Intel and Advanced Micro Devices—are getting ready to report earnings this week and next as they battle it out in the semiconductor market.
Source: Forbes - 🏆 394. / 53 Read more »
Boeing set to report earnings before the bell amid 737 Max crisisBoeing is expected to report third-quarter earnings before the market opens on Wednesday. I don’t want to go here. Too many people are dead now do to the Boeing 737 Max. President Trump? The last one out of all the Countries to ban them. Seems our pissodent didn’t care if the Americans crashed.
Source: CNBC - 🏆 12. / 72 Read more »
Comcast Delivers Revenue and Earnings Gains Despite Softness at NBCUniversalComcast matched Wall Street’s expectations for its third quarter revenue and earnings per share despite tough year-over-year comparisons for NBCUniversal. Comcast delivered $26.8 billion in r… As a Media Consultant the complicated issue of content really comes down to this ? What programing, if any are going to watch live from the originating time Zone. The internet is best effor to stream and it evolves on it's own !!!! I bet they did... my cable bill is waaayyyy too damn high.
Source: Variety - 🏆 108. / 63 Read more »
NBCUniversal Earnings Rise Slightly Despite Lower Film, Cable Networks ResultsThe Steve Burke-led entertainment arm of Comcast had tough comparisons with the year-ago period when its film releases included ;Jurassic World' and it aired the soccer World Cup and the Ryder Cup.
Source: THR - 🏆 411. / 53 Read more »
Comcast earnings: 79 cents a share, vs 75 cents EPS expectedComcast is set to report earnings before the bell — here's what the Street expects
Source: CNBC - 🏆 12. / 72 Read more »