Third-quarter revenues at Comcast Corporation rose by 21.2 percent to $26.8 billion, with net profit rising 11.5 percent to $3.2 billion, as the company posted EBITDA gains at NBCUniversal and Sky.
“We delivered excellent results in the third quarter, surpassing 55 million customer relationships and generating strong pro forma growth in adjusted EBITDA and double-digit growth in adjusted EPS,” said Brian L. Roberts, chairman and CEO. “We continued our long track record of highly-profitable growth, while also investing in our businesses to further strengthen our leading competitive position. 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 number one in primetime for the sixth consecutive 52-week season; and Sky’s channels had a 10 percent increase in household viewership. 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. Together, with our leading scale in high-value customer relationships and premium content, we are strategically positioned to thrive in our evolving global industry.”
NBCUniversal’s revenues were down by 3.5 percent to $8.3 billion, with $2.8 billion from cable networks (down 2.8 percent), $2.2 billion from broadcast (down 9.1 percent), $1.7 billion from filmed entertainment (down 6.2 percent) and $1.6 billion from theme parks (up 6.8 percent). The cable networks were down due to lower content licensing and other revenue, partially offset by higher distribution revenue. Broadcast television took the hit from decreased advertising and content licensing revenue, partially offset by increased distribution and other revenue. Home entertainment and theatrical revenues were down in the filmed entertainment segment. Theme parks were boosted by higher attendance.
Sky revenues were down by 4.2 percent to $4.6 billion, with an adjusted EBITDA of $899 million. Excluding the impact of currency, revenue increased by 1 percent, driven by higher direct-to-consumer and content revenue, partially offset by lower advertising revenue. Total customer relationships fell by 99,000 to 23.9 million.
At Comcast Cable, total revenues rose 4 percent to $14.6 billion, with gains in high-speed internet, wireless and business services; video revenues were relatively stable at $5.5 billion, despite total video customer net losses of 238,000. The company ended the quarter with 31.2 million customer relationships, an increase of 309,000. Total video customers, including residential and business, stood at 21.4 million.