Comcast Corporation (NASDAQ: CMCSA) delivered better-than-expected third-quarter earnings, though revenue declined from last year and shares slipped more than 2% in intra-day trading on Thursday.
Adjusted earnings per share came in at $1.12, surpassing analyst expectations by $0.02. Revenue fell 2.7% year-over-year to $31.2 billion but exceeded the consensus estimate of $30.7 billion. Adjusted EBITDA edged down 0.7% to $9.7 billion.
The telecommunications and media giant attributed the revenue decline to tough comparisons with last year’s results, which included contributions from the Paris Olympics. Its wireless business was a standout, adding a record 414,000 lines and growing domestic wireless revenue by 14% to $1.25 billion, partly offsetting broadband customer losses of 104,000.
Theme Parks revenue surged 18.7% to $2.7 billion following the successful May opening of Epic Universe in Orlando. The Studios division reported a 6.1% revenue increase to $3 billion, boosted by the blockbuster performance of Jurassic World Rebirth, which generated nearly $900 million globally.
Business Services continued to perform well, with connectivity revenue up 6.2% to $2.6 billion and EBITDA rising 4.5% to $1.5 billion.
