Comcast Earnings: Strong Earnings Streak Lifts Stock

S&P 500 (NYSE:SPY) component Comcast Corporation (NASDAQ:CMCSA) reported its results for the third quarter. Comcast provides cable and communications services to residential and commercial customers.

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Comcast Corporation Earnings Cheat Sheet

Results: Net income for Comcast Corporation rose to $2.1 billion (78 cents per share) vs. $908 million (33 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year-earlier quarter.

Revenue: Rose 15.3% to $16.54 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Comcast Corporation reported adjusted net income of 46 cents per share. By that measure, the company fell in line with the mean estimate of 46 cents per share. It beat the average revenue estimate of $14.43 billion.

Quoting Management: Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, “The third quarter continues our momentum. Cable’s results show real strength in every part of the business, producing sustainable and profitable growth while we expand our product offerings, deliver more innovation and continue to transform the customer experience.”

Key Stats:

The company has now seen its net income rise for three quarters in a row. In the second quarter, net income rose 31.9% and in the first quarter, the figure rose 29.8%.

Revenue has increased for four consecutive quarters. Revenue increased 6.1% to $15.21 billion in the second quarter. The figure rose 22.7% in the first quarter from the year earlier and climbed 54.7% in the fourth quarter of the last fiscal year from the year-ago quarter.

The company met estimates last quarter after toppling them in the two previous quarters. In the second quarter, it topped the mark by 2 cents, and in the first quarter, it was ahead by 3 cents.

Looking Forward: Analysts have a more positive outlook about the company’s results for next quarter. The average estimate for fourth quarter is 54 cents per share, an increase from 52 cents sixty days ago. Over the past three months, the average estimate for the fiscal year has climbed from $1.90 per to share to $1.94.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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