Comcast beats by $0.02, reports revs in-line
Reports Q3 (Sep) adj. earnings of $0.73 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.71; revenues rose 4.0% year/year to $16.79 bln vs the $16.82 bln consensus. Operating Cash Flow increased 7.0% and operating income increased 9.7%; FCF increased 26.7% to $2.5 bln.
- Revenue for Cable Communications increased 5.2% to $11.0 billion in the third quarter of 2014 compared to $10.5 billion in the third quarter of 2013, driven by increases of 9.6% in high-speed Internet and 21.0% in business services.
- Revenue for NBCUniversal increased 1.2% to $5.9 billion in the third quarter of 2014 compared to the third quarter of 2013, as revenue growth in Broadcast Television and Theme Parks was partially offset by lower theatrical revenue in the Filmed Entertainment segment.
- Revenue from the Cable Networks segment increased 0.7% to $2.3 billion compared to $2.2 billion in the third quarter of 2013, reflecting a 5.1% increase in distribution revenue, partially offset by a 4.6% decline in advertising revenue, primarily due to a decline in ratings.
- Revenue from the Broadcast Television segment increased 7.7% to $1.8 billion compared to $1.6 billion in the third quarter of 2013, driven by an increase in advertising revenue due to strong ratings at the NBC broadcast network, as well as higher retransmission consent fees and an increase in content licensing revenue.
- Revenue from the Filmed Entertainment segment decreased 15.2% to $1.2 billion compared to $1.4 billion in the third quarter of 2013, reflecting a decline in theatrical revenue primarily due to the strong box office performance of Despicable Me 2 in the third quarter of 2013. of 2013, reflecting higher guest attendance and per capita spending, driven by the successful opening of Orlando's The Wizarding World of Harry Potter -- Diagon Alley.