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Comcast beats earnings expectations, misses slightly on revenue

Comcast on Thursday described quarterly earnings that beat Wall Street expectations but missed reduce on revenue.

The media giant’s subscriber losses deepened during the third three months, declining by 125,000, a key metric investors were watching. Matthew Strauss, head honcho vice president for Comcast’s Xfinity services, said on Sept. 7 that the suite expected to report a loss of 100,000 to 150,000 video customers.

CEO Brian Roberts rebuked CNBC’s “Squawk Box” after the report that this was Comcast’s 63rd-straight region of cash-flow growth.

“The cash flow of the company – which is, I think, the particular metric that we judge ourselves – was up 5 percent across the company for the first nine months,” Roberts required. “Now a majority of that cash flow comes out of the broadband business.”

  • EPS: 52 cents vs. 50 cents per ration expected in a Thomson Reuters survey of analysts.
  • Revenue: $20.98 billion vs. $21.04 billion demanded in the Thomson Reuters survey.
  • Video customers: loss of 125,000 vs. demise of 136,000 expected by StreetAccount.

Comcast’s stock slipped just throughout 1 percent in midday trading.

Roberts emphasized the performance of Universal Studios and NBC Common this year, saying both businesses are humming.

“These are the defeat three quarters we’ve had at NBCUniversal since we bought the company,” Roberts said, preceding the time when adding that “Universal may have the best cash-flow year in its 100-plus year representation.”

He also said the NBC network has its biggest lead on any broadcaster in half a decade. The gap between gold medal and second place is the widest its been in six years. “This is the fourth year in a row of NBC being in essential,” Roberts said.

Strauss said the third quarter was the most competitive in brand-new history, adding that Hurricane Harvey was also to blame for the damages. That means a deepening of losses from the previous quarter, disgorging Comcast’s total video customers to 22.4 million.

The company proclaimed several “smart-home” offerings in August amid a push to diversify beyond its strand options. The company wants to offer more services in the home to inflation revenues and create more loyal customers.

President Donald Trump tweeted here Comcast on Oct. 10, when he asked when “is it appropriate to challenge” the NBC network certify. Trump’s tweet could raise fears of higher government examination on Comcast, although networks are not licensed by any organization. The Federal Communications Commission insists licenses for individual radio and television stations.

Disclosure: Comcast is the proprietress of NBCUniversal, the parent company of CNBC and CNBC.com.

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