Comcast's cable TV operations were down 140,000 versus a 45,000 decline in the second quarter a year ago. Comcast now totals 22.1 million cable subscribers. Revenue from its cable TV operations sank 1.9% to $5.6 billion.
In overall revenue Comcast was up 2.1% to $21.7 billion, with net income 26% higher to $3.2 billion -- the latter higher than analysts' estimates. Comcast’s broadband business remained a top performer in is cable communications group -- up 9.3% to $4.3 billion, also higher than expected.
All this pushed up Comcast stock in early Thursday morning trading, 3.6% to $34.70.
Comcast's voice business declined 3.9% to $994 million.
In the second three months of 2018, NBCUniversal's revenue was flat at $8.3 billion. Its broadcast TV business was up 6.7% to $2.4 billion with a 9% hike in advertising revenue, mostly attributable to Telemundo’s World Cup programming. Broadcast TV also grew 17% in distribution revenue.
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Cable TV networks were up 8.2% to $2.9 billion, with advertising growing 3.6% and distribution revenue adding 9%.
On the losing end was NBCU’s filmed entertainment business, sinking 20% to $1.7 billion as a result of lower theatrical, home entertainment and content-licensing revenue. Theme parks grew 3.6% to $1.4 billion.
Comcast’s local cable TV advertising revenue was up 6.4% to $666 million.