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7/30, 1:08 PM (Source: TeleTrader)
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Comcast revenue falls 11.7% to $23.7B in Q2

Comcast Corporation unveiled on Thursday that its revenue for the second fiscal quarter of 2020 amounted to $23.72 billion, sliding 11.7% year-over-year, while earnings per share (EPS) slumped 4.4% annually to $0.65.

The Philadelphia-based firm said its net cash provided by operating activities was at $8.64 billion in the second fiscal semester, increasing 22.8% compared to the same quarter in 2019.

"Our response to COVID-19 has been extraordinarily fast and effective, and our products and brands continue to resonate strongly with our customers across all segments and all geographies. The solid results that we delivered in the quarter highlight the resilience of our company. Cable delivered record second-quarter customer relationship net adds, driven by the best second-quarter high-speed internet net adds in 13 years." Chairman and Chief Executive Officer of Comcast Corporation Brian Roberts commented on results.

The company's shares rose 4.81% in premarket trading after the earnings release was published.

Breaking the News / TF