Comcast third-quarter earnings top estimates

Investing.com - Shares of Comcast gained after the media giant posted adjusted third-quarter earnings per share of $1.07, topping Bloomberg consensus estimates of $0.98.

Revenue dropped by 6.1% versus a year ago to $29.30 billion, but also exceeded projections of $29.14 billion.

On an adjusted basis, earnings before interest, taxes, depreciation and amortization fell by 5.8% to $9.11 billion, although the number was bolstered by strength at Comcast’s Peacock streaming service. Summer blockbuster “The Odyssey,” which was distributed by Comcast’s Universal division, has also generated almost $1.8 billion at the worldwide box office.

Analysts had seen the core income figure at $8.88 billion.

Shares of Comcast edged lower in volatile premarket U.S. trading on Thursday.

Original Article

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