Com­cast

Daily Local News (West Chester, PA) - - MARKETPLACE -

that these new stream­ing TV ser­vices will “cre­ate millions and millions of sub­scribers any­time soon,” and most peo­ple value their ca­ble and satel­lite sub­scrip­tions. But they could be “a mod­est pos­i­tive” for NBCUniver­sal over the years, he said.

In the third quar­ter, Com­cast added 32,000 video cus­tomers, com­pared with a 48,000 loss a year ago — the first thirdquar­ter gain since 2006. It gained 330,000 in­ter­net cus­tomers, com­pared with 320,000 a year ago. Phone cus­tomer ad­di­tions fell to 2,000 from 17,000.

The Olympics broad­cast in August gave a big boost to NBC and the com­pany’s ca­ble net­works. Rev­enue rose 57 per­cent to $3.09 bil­lion in the broad­cast unit, which is NBC and Span­ish­language Tele­mu­ndo, and gained 22 per­cent to $2.94 bil­lion at the ca­ble-net­works di­vi­sion, which in­cludes MSNBC, Bravo and USA Net­work.

Rev­enue fell 8 per­cent in the movies di­vi­sion, which raked in cash last sum­mer with the block­busters “Juras­sic World” and “Minions.”

Over­all, Com­cast net in­come climbed to $2.24 bil­lion from $2 bil­lion in the same pe­riod a year ago. Rev­enue in­creased 14 per­cent to $21.32 bil­lion.

Its Class A shares fell $1.83, or 2.8 per­cent, to $62.69 in af­ter­noon trad­ing Wed­nes­day. Its stock had gained 14 per­cent in 2016 through Tues­day’s close.

This story has been cor­rected to show net in­come was $2.24 bil­lion, not mil­lion.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.