Comcast meets 3Q profit forecasts

PHILADELPHIA – PHILADELPHIA (AP) _ Comcast Corp. (CMCSA) on Wednesday reported third-quarter net income of $2.24 billion.

On a per-share basis, the Philadelphia-based company said it had profit of 92 cents.

The results met Wall Street expectations. The average estimate of 24 analysts surveyed by Zacks Investment Research was also for earnings of 92 cents per share.

The cable provider posted revenue of $21.32 billion in the period, surpassing Street forecasts. Twenty-three analysts surveyed by Zacks expected $21.18 billion.

Comcast shares have climbed 14 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 5 per cent. The stock has increased almost 4 per cent in the last 12 months.


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Keywords: Comcast, Earnings Report, Priority Earnings