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Comcast Corp. said profit for the first quarter of 2019 rose 14% thanks to new subscribers coming to its cable unit for high-speed online service and the addition of its recently acquired Sky PLC European-satellite business.
The owner of NBCUniversal and the Comcast cable business said profit came to $3.55 billion, or 77 cents a share, compared with $3.12 billion, or 66 cents a share, in the year-earlier period. Analysts had widely expected earnings of 68 cents a share.
Results - Customers - Philadelphia - Company - Internet
Results were buoyed by 375,000 new customers for the Philadelphia company’s high-speed Internet service, even as Comcast shed subscribers from its traditional video business. Comcast’s NBCU division, meanwhile, faced tough comparisons with the year-earlier quarter, when it benefited from revenue associated with a Super Bowl broadcast and the PyeongChang Olympics.
Comcast said revenue rose 18% to $26.86 billion.
Revenue - Company - Cable - Unit - %
Revenue at the company’s large cable unit rose 4.2% to $14.3 billion, driven largely by a 10.1% increase in...
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