Comcast tops profit forecasts; cable TV subscriptions fall

July 26, 2018 - 7:33 am

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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