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Comcast easily clears profit hurdle, but stock dips after earnings

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Company shed a net of 490,000 video customers in third quarter

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.

 

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