Originally published at www.seclive.com
Comcast Corporation (CMCSK) announced its third fiscal quarter financial results, reporting net income that topped analyst estimates. Net income for the quarter declined from $2.11B and $0.78 per share a year ago to $1.73B and $0.65 per share this quarter. Revenue dipped slightly by 2.4% to $16.15B, missing analyst expectations of $16.26B. These changes are explained primarily because of the boost it received last year during the London Summer Olympics. Comcast has lost cable TV subscriber market share to competitors like AT&T and others, reporting a 129,000 loss in video subscribers during the quarter. Comcast and its smaller rivals are trying to gain ground with internet subscribers, which Comcast increased by 297,000 customers. NBC Universal, wholly owned by Comcast, generated $189M in operating cash flow over the $72M last year thanks to the airing of "Despicable Me 2", which propelled growth.
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