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Brian Roberts, CEO of Comcast
Comcast reported mixed quarterly results Thursday — beating Wall Street estimates on earnings but falling short on revenue — and posted a big beat on high-speed internet adds.
Here's how the company did compared with what Wall Street predicted:
Earnings: 65 cents per share vs. 60 cents per share forecast by Thomson ReutersRevenue: $21.74 billion vs. $21.86 billion forecast by Thomson ReutersNet increase of 260,000 high-speed internet customers vs. 195,000 forecast by FactSet consensus estimatesShares of Comcast rose almost 2 percent in premarket trading following the report.
The report comes on the heels of a busy quarter of evolving M&A strategy for media giant, which owns CNBC parent NBCUniversal. Comcast has been in bidding wars for U.K. broadcaster Sky and 21st Century Fox assets, but last week abandoned its bid for Fox.
Comcast's pursuit of new media assets comes amid consistent declines in video customers for the last four quarters, according to FactSet.
The company continues to add high-speed internet customers, though, blowing Wall Street projections out of the water in the second quarter. CEO Brian Roberts said in a statement the 260,000 net new internet customers is the highest second-quarter result in a decade.
Last quarter, Comcast saw a revenue boost from NBC's coverage of the 2018 Winter Olympics and the Super Bowl. This quarter, it reported seeing record-setting coverage for Telemundo, as it presented the FIFA World Cup for the first time.
The company's third quarter revenue represents a 2 percent year-over-year increase. Earnings per share jumped 25 percent from the year-ago period.
Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC and CNBC.com.
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