Economy

Comcast Q2 Earnings, Revenue Top Views Amid Verizon Speculation

Comcast Q2 Earnings, Revenue Top Views Amid Verizon Speculation”

Universal's The Fate Of The Furious helped to drive a almost 60% gain in revenues vs the period past year at NBCUniversal's Filmed Entertainment unit.

Analysts had estimated earnings of 48 cents on revenue of $20.86 billion.

The company recorded EBITDA improvements in all divisions, with particularly strong gains in its film and theme parks units, which grew 407 percent and 17.3 percent, respectively.

The company's revenues still increased 9.8 percent year-on-year, with cable up 5.5 percent to Dollars 13.122 billion, driven by price increases, and NBCUniversal growing a faster 17.3 percent to USD 8.331 billion, thanks to successful film launches.

Comcast said it lost 34,000 pay TV subscribers in the second quarter, which is traditionally the weakest of the year for pay TV operators. In the year-ago quarter, Comcast had lost 4,000.

Content licensing also was up 10.5%. Filmed Entertainment revenue rose 59.6% to $2.2 billion, with revenue from current theatrical releases rising $837 million from $540 million on the strength of "Fate of the Furious", the company's most recently release in a long-running franchise. Revenue was up 5.3% to $2.241 billion. A year earlier, Comcast earned 42 cents a share on sales of $19.27 billion. Free cash flow totaled United States dollars 2.2 billion in the quarter. Distribution and other revenue was up 36.1% because of higher retransmission consent fees.

"NBCUniversal continued to deliver outstanding performance, with 17.3% revenue growth and 22.6% Adjusted EBITDA growth", said CEO Brian Roberts.

At Comcast's cable business, earnings rose 5.4% to $1.956 billion in the quarter as revenues rose 5.5% to $13.12 billion. But distribution revenues increased 8.1% due to higher rates, overcoming what the company describes as "a decline in subscribers at our cable networks". "Driving these tremendous results were the box office success of Fate of the Furious, continued increases in affiliate and retransmission revenues at our TV businesses, and impressive growth at our theme parks".

At the NBCU cable networks, earnings rose 11.7% to $1.055 billion as revenue rose $5.1% to $2.7 billion.



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