Comcast Shocker: Cord-Cutting Slows, Wireless Soars in Q3 Earnings
Earnings Beat Expectations (Despite Olympic Comparisons) Comcast’s Q3 results trounced Street forecasts. Net income of $3.33 billion (¥8.2% YoY) translated to $0.90 GAAP EPS, or $1.12 adjusted EPS (vs. ≈$1.10 consensus) on $31.2 billion revenue thewrap.com. The revenue marked a 2.7% YoY decline, but topped analyst models (~$30.7B). Crucially, last year’s quarter was inflated by the Paris Olympics (adding ~$1.9B in revenue), so year-on-year comparisons were unfavorable thewrap.com. Even with that Olympic tailwind, Comcast beat estimates, suggesting resilience in its core businesses. Contributing to the beat, Comcast’s theme parks and content divisions thrived. Universal’s new Epic Universe park drove theme-park revenue up