Comcast Corp. (NASDAQ: CMCSA) reported its results before the market opened Thursday as $0.99 in earnings per share and $16.79 billion in revenue. That was against Thomson Reuters consensus estimates of $0.71 in earnings per share and $16.82 billion in revenue. In the third quarter of the previous year, Comcast had earnings of $0.65 per share and $16.15 billion in revenue.
Net income read at $2.63 billion, up almost 48% from the previous year’s $1.78 billion. The board of directors for Comcast also announced that it will have a quarterly 0.225 dividend per share on its common stock, which will be payable starting January 28, 2015.
Comcast revenues across its segments for the third quarter in 2014 came in as:
- NBCUniversal increased 1.2% to $5.9 billion.
- The Cable Networks segment increased 0.7% to $2.3 billion, compared to $2.2 billion in the third quarter of 2013.
- The Broadcast Television segment increased 7.7% to $1.8 billion, compared to $1.6 billion in the third quarter of 2013.
- The Filmed Entertainment segment decreased 15.2% to $1.2 billion, compared to $1.4 billion in the third quarter of 2013.
- The Theme Parks segment increased 18.7% to $786 million, compared to $661 million in the third quarter of 2013.
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Brian Roberts, chairman and CEO Comcast, said:
I am pleased to report strong revenue, operating cash flow and free cash flow growth for the third quarter of 2014. Cable results highlight the consistent strength of high-speed Internet and business services, and video customer results were the best for a third quarter in seven years.
Shares of Comcast closed Wednesday down about 1% at $51.49. The initial reaction following the release of the earnings report in the premarket was positive, and shares were up about 1% to $52.00. The stock has a consensus analyst price target of $63.63 and a 52-week trading range of $46.58 to $57.49. The company has a market cap of $133 billion.
Is the question here — what cord cutters?
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