Comcast beats earnings with increased broadba

nd sales
Top cable and Internet provider Comcast said Tuesday that growth i
n its home Net business helped boost its second-quarter net income 1
5% to $1!! billion
Its ad"usted earnings per share o# $5 cents beat analysts% estimates o#
$& cents
'evenue grew (5% to $1)* billion+ #alling short o# analysts% estimate
s o# $1)! billion
Comcast stoc, closed at $5-)(+ up *1 cents+ or 15%+ Tuesday
Comcast%s cable revenue grew 5-% to $11 billion #rom $1.5 billion+
and it added &.(+... broadband customers /nd the e0odus o# cord c
utters slowed+ with a decline in the quarter o# 1--+... video customer
s+ the second-best result in si0 years
1verall+ Comcast has &)* million customers a#ter losing &5+... durin
g the second quarter 2 an improvement o# )&%+ compared with ))+..
. lost during the second quarter o# &.1( 3owever+ the company incre
ased its number o# triple-play customers 2 those who have cable T4+ I
nternet and phone service 2 to ()% o# its customer base+ up #rom (-
% last year 1verall+ Comcast has !$ million triple-play customers
Customers% average monthly bills rose nearly -5% to $1($&- #rom $1
(1(5 in the second quarter last year
'evenue #rom N5C6niversal increased .(% to $).1 billion+ up #rom
$5!! billion Cable+ broadcast T4 and theme par, revenue rose+ while
7lmed entertainment revenue #ell 15% #rom $1- billion to $1& billion
8This is an important time as we see, approval #or our Time 9arner C
able acquisition+8 said Comcast chairman and C:1 5rian 'oberts in a
con#erence call a#ter earnings were announced 3e re#erenced the co
mpany%s proposed $-5 billion deal to merge the competing cable comp
any with its current system The ;ederal Communications Commission
began its 1*.-day review o# the deal on <uly 1.+ company o=icials said
8There are several bright spots across the company+8 'oberts said 8>
espite lots o# opportunities #or distractions+8 he said that Comcast rem
ained 8#ocused on operational e0cellence8
Comcast does have strong momentum during what is typically a so#t ti
me o# year+ said research analyst <essica 'ei# Cohen o# 5an, o# /meric
a ?errill @ynch
Ahe reiterated a 8buy8 rating in a research note issued in advance o# e
arnings on the 8high li,elihood8 that Comcast%s acquisition o# Time 9a
rner Cable would receive #ederal approval Comcast+ she said+ has a 8c
lear #ocus on operationsB a commitment to innovation and a content
division that is a signi7cant driver to earnings
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