Comcast on Tuesday morning reported its third quarter earnings, posting revenue of $18.7 billion and adjusted profit of 80 cents per share, in line with analyst expectations.
The company beat sales expectations of $18.03 billion due to box office hits and improvement in high-speed Internet and business services.
Following the mixed quarter, Comcast stocks remained largely flat, dipping only 1 percentage point.
Though the company may be making gains in Internet services, it still sees video subscribers departing. This quarter, it lost 48,000. However, this is a major improvement from the same quarter last year when 81,000 subscribers departed.
Comcast CEO Brian Roberts called it “a great quarter” across the board in an interview with CNBC. The company has been challenged in recent years to find new sources of revenue as cord cutters depart from its cable services for online streaming options like Netflix. The decrease in subscriber departures could be a sign that the cord cutting trend is slowing.
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