10/28/2021, 1:02 PM (Source: TeleTrader)
more TeleTrader news

Comcast Q3 revenue up 18.7% YoY at $30.29B

Comcast Corporation reported on Thursday that its revenue for the third fiscal quarter of the year increased 18.7% compared to the same period last year reaching $30.29 billion, beating market estimates.

The company's adjusted net income rose 34.6% year-over-year to $4.03 billion, while its adjusted earnings per share (EPS) also beat expectations to jump from $0.65 to $0.86 for an annual gain of 33.8%.

Comcast CEO Brian Roberts commented on the results: "I am pleased with our strong operating and financial results this quarter. Each of our businesses posted significant growth in Adjusted EBITDA, contributing to a double-digit increase in our Adjusted EPS ... I am excited about the opportunity to continue to invest in our global technology platform and other businesses while returning more capital to shareholders. This strategy is reflected in our most recent product launches ... as well as the $2.7 billion we returned to shareholders through a combination of share repurchases and dividend payments."

Comcast shares were up 3.17% in premarket trading following the release of the report.

Baha Breaking the News (BBN) / IB