Comcast Tops Wall Street Expectations Even as it Swings to Q3 Loss on 1.5% Revenue Slip
Comcast revenue slid 1.5% as the cable and broadband provider shed 21,000 residential cable customers and swung to a loss in the third quarter,Philadelphia-based Comcast Corporation reported revenue of $29.8 billion, and a loss of $4.6 billion, or $1.05 per share . That was down from revenue of $30.3 billion, and a profit of $4 billion, or $0.86 per share , in the third quarter of 2021, which featured NBC’s hosting of the Olympics .Adjusted earnings came in at 96 cents per share , topping the 90 cents forecast by Wall Street analysts . Shares were gaining in premarket trading, up $2.17, or 6.7% to $33.67.
Comcast revenue slid 1.5% as the cable and broadband provider shed 21,000 residential cable customers and swung to a loss in the third quarter,
Philadelphia-based Comcast Corporation reported revenue of $29.8 billion, and a loss of $4.6 billion, or $1.05 per share. That was down from revenue of $30.3 billion, and a profit of $4 billion, or $0.86 per share, in the third quarter of 2021, which featured NBC’s hosting of the Olympics.
Adjusted earnings came in at 96 cents per share, topping the 90 cents forecast by Wall Street analysts.
