Media and cable giant Comcast (NASDAQ:CMCSA) beat estimates for top and bottom line numbers in the third quarter and posted smaller losses for broadband and video customers.
CMCSA stock is up more than 2% in premarket trading on the Nasdaq.
In Q3, domestic broadband customer losses were 104,000, below the Bloomberg consensus estimate of 140,083; domestic video customer losses were 257,000, lower than the 365,000 losses for the same period last year; and domestic wireline additions went up by 414,000 compared to 319,000 additions last year.
Studio revenue rose 6.1% to $3B, driven by an increased number of film releases in the current quarter, including Jurassic World Rebirth.
Revenue from its streaming service, Peacock, was $1.36B, below the estimate of $1.48B.
The ongoing momentum following the opening of Epic Universe earlier this year helped boost revenue in the theme park business by 18.7% to $2.72B.
The total media segment revenue fell nearly 20% in the quarter to $6.59B, as the prior year period included additional revenue from the Paris Olympics.
Revenue from connectivity and platforms, which brings in the bulk of total revenue, was down 1.5% at $17.6B.
Net income for the three months ended September 30 was $3.33B, or $0.90 per share, compared to $3.63B, or $0.94 per share, for the same period last year.
On an adjusted per-share basis, the company earned $1.12, beating the average analyst estimate of $1.10 per share.
Revenue was down 2.7% to $31.2B but was ahead of the $30.68B estimate.