Comcast tops profit forecasts; cable TV subscriptions fall

Comcast tops profit forecasts; cable TV subscriptions fall

6 years ago
Anonymous $RBasgWKaIV

https://phys.org/news/2018-07-comcast-tops-profit-cable-tv.html

Revenue rose 2.1 percent to $21.74 billion in the period, just short of expectations. The company added 260,000 high-speed internet customers during the quarter, though it has been struggling overall as it lost 140,000 video customers.

The mixed quarterly results follow the Philadelphia-based company's decision last week to drop its $66 billion bid for Fox's entertainment business. The Walt Disney Co. had topped that offer with $71 billion as part of a bidding war. The move freed Comcast to focus on its other potential acquisition, European pay TV operator Sky, a deal that would help the Philadelphia-based cable and media company expand beyond the U.S.