Comcast Q2 Profit Up 25%, Results Top Estimates - Quick Facts

(RTTNews) - Comcast Corp. (CMCSA, CMCSK) on Thursday reported a 25 percent increase in profit for the second quarter from last year, boosted primarily by strong revenue growth at NBCUniversal. Both adjusted earnings per share and quarterly revenues topped analysts' expectations. The company also declared a quarterly dividend.

Net income attributable to Comcast for the quarter increased to $3.74 billion or $0.80 per share from $2.99 billion or $0.65 per share in the year-ago quarter. Excluding items, adjusted earnings for the quarter were $0.84, compared to $0.69 per share in the prior-year quarter.

On average, 26 analysts polled by Thomson Reuters expected the company to report earnings of $0.66 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 20.4 percent to $28.55 billion from $23.72 billion in the same quarter last year. Analysts had a consensus revenue estimate of $27.16 billion for the quarter.

Revenue for Cable Communications grew 10.9 percent to $16.0 billion, NBCUniversal revenue increased 39.2 percent to $7.96 billion and revenue for Sky increased 28.0 percent to $5.22 billion from last year.

The company said theme parks delivered its first profitable quarter since the first quarter of 2020, driven by Universal Orlando.

Cable Communications total customer relationship net additions were 294,000, the best second quarter result on record, and total broadband customer net additions were 354,000, the best second quarter result on record.

Cable Communications wireless customer line net additions were 280,000, the best quarterly result on record.

Separately, Comcast announced that its Board of Directors declared a quarterly dividend of $0.25 a share on the company's common stock, payable on October 27, 2021 to shareholders of record as of the close of business on October 6, 2021.