TV Looks Good as NBC Ad Revenue Climbs, Comcast Combats Cord-Cutting
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Comcast, the largest U.S. cable provider as well as the owner of NBC Universal, reported profit that topped estimates for the seventh consecutive quarter and posted its best second-quarter video and high-speed data subscriber numbers in five years.
Net income in the three months through June climbed 29% to $1.73 billion from $1.35 billion a year earlier, the company said today in a statement. The average analyst estimate was for net income of $1.69 billion, according to data compiled by Bloomberg.
Comcast lost 159,000 TV customers in a seasonally weak quarter for cable operators as college students disconnect service for the summer vacation, a smaller loss than the 176,000 TV subscribers that fell away in the quarter a year earlier. It gained 187,000 broadband subscribers.
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