Comcast beats earnings, says NBC streaming service to launch in April 2020.
The company beat EPS estimates 75 cents per share, reporting 78 cents per share, but misses revenue estimates of $27.06 billion, reporting $26.86 billion.Brian Roberts, chairman and chief executive officer of Comcast Corp.on Thursday reported second-quarter earnings that beat expectations but revenue that fell short. It also exceeded estimates on high-speed internet customer additions.Here are the key numbers:78 cents, adjusted, vs.
Theatrical revenue decreased 53.1% for the quarter from a year earlier. The company said the decline was due to the strength of releases last year including "Jurassic World: Fallen Kingdom." It said the decline impacted Comcast's filmed entertainment revenue, which fell 14.8% from a year earlier. Cable networks, excluding the Olympics, accounted for $2.95 billion in total revenue, a 2.5% increase from last year's quarter.
Filmed entertainment brought in $1.46 billion in total revenue, a 14.8% decrease from the previous year.As its video segment has declined, Comcast has shifted its focus on other areas of the business to develop. Comcast acquired British broadcaster Sky last year. CEO Brian Roberts told analysts last quarter the company had been "exploring launching a global NBC-Sky news channel later this year.
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