Comcast’s 2Q earnings top estimates

Comcast Corp., the largest U.S. cable-TV provider, posted a second-quarter profit that beat analysts’ estimates after fewer subscribers than expected canceled service.

Profit excluding some items was 83 cents a share, Philadelphia-based Comcast said Wednesday in a statement. Analysts predicted 81 cents, the average of estimates compiled by Bloomberg.

The company lost 4,000 cable-TV customers in the quarter, compared with a drop of 69,000 a year earlier. Three analysts surveyed by Bloomberg had projected a loss of 42,000 in a seasonally weak period when college students disconnect their cable service for summer vacation.

Comcast also signed up 220,000 Internet customers, the most for a second quarter in eight years, exceeding predictions of about 192,000. As more people watch videos online instead of on TV, selling broadband has become a growing business for cable companies.

Revenue rose 2.8 percent to $19.3 billion in the quarter, edging out analysts’ estimates of $19 billion.

Net income for the quarter was $2.03 billion, down 5 percent from a year earlier. The average monthly customer bill climbed 3 percent to $147.99.

Comcast shares rose 74 cents to close Wednesday at $67.92.