Comcast tops profit forecasts; cable TV subscriptions fall

Published 07-26-2018

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PHILADELPHIA (AP) - Comcast is reporting a stronger than expected second-quarter profit even as it struggles to keep cable TV subscribers.

Earnings reported Thursday were $3.22 billion, or 69 cents per share. Earnings, adjusted for non-recurring gains, were 65 cents per share, which, according to a survey by Zacks Investment Research, was 4 cents better than expected.

Revenue was $21.74 billion in the period, just short of expectations.

Comcast Corp., based in Philadelphia, lost 140,000 cable TV subscribers during the quarter. It also dropped its $66 billion bid for Fox's entertainment businesses, which had turned into a bidding war with Disney.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMCSA at https://www.zacks.com/ap/CMCSA

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