Comcast Profit Advances 16% as Video-Subscriber Losses Slow
This article is for subscribers only.
Comcast Corp., the largest U.S. cable company, posted a 16 percent increase in second-quarter profit after adding Internet users, boosting sales at its NBC Universal unit and reducing video-subscriber losses.
Net income climbed to $1.02 billion, or 37 cents a share, from $884 million, or 31 cents, a year earlier, Philadelphia-based Comcast said today in a statement. Excluding some costs, profit was 42 cents a share, topping the 41-cent average estimate of analysts surveyed by Bloomberg. Comcast lost 238,000 video subscribers in the quarter, 10 percent fewer than in the year-ago period, when it lost 265,000.