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Comcast revenue climbs in Q3 despite dips at NBCU cable, broadcast

Comcast revenue rose to US$26.8 billion in the third quarter of 2019 despite modest gains at subsidiary NBCUniversal. The telecommunications giant released its Q3 results Oct. 24, posting a 21% bump in ...
October 24, 2019

Comcast revenue rose to US$26.8 billion in the third quarter of 2019 despite modest gains at subsidiary NBCUniversal.

The telecommunications giant released its Q3 results Oct. 24, posting a 21% bump in revenue from the year-ago quarter. Earnings per share came to 0.79 cents, up 16.2% from Q3 2018.

NBCUniversal revenue dipped 3.5% from Q3 2018 — which topped out at $8.6 billion — to $8.3 billion. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) climbed 1.6% to $2.1 billion.

Revenue for NBCU’s cable networks division — including Bravo, E! and Oxygen — fell 2.8%, to $2.8 billion in the third quarter, “reflecting lower content licensing and other revenue, partially offset by higher distribution revenue,” Comcast stated.

The mass media company’s broadcast television revenue slid to $2.2 billion, a 9.1% decline from Q3 2018, largely due to a decrease in advertising and content licensing revenue.

NBCU’s filmed entertainment revenue dipped to $1.7 billion in the third quarter of 2019.

Revenue for Sky, Comcast’s UK-based media and telecommunications conglomerate, fell 4.2% from the year-ago quarter to $4.6 billion.

Sky’s content revenue jumped 15.4% to $315 million, “reflecting monetization of our slate of original programming and the wholesaling of sports programming,” Comcast stated.

“Cable had its highest third quarter broadband net additions in 10 years, which drove its best quarterly net additions in total customer relationships on record; NBC ranked #1 in primetime for the sixth consecutive 52-week season; and Sky’s channels had a 10% increase in household viewership,” Brian L. Roberts, chairman and CEO of Comcast Corporation, said in a statmenet “These and our many other accomplishments during the quarter underscore our strategic focus on innovation and providing our customers with superior products, services and experiences.”

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