Comcast Corp. (NASDAQ: CMCSA) has reported a sharp increase in adjusted earnings for the second quarter of 2023 when the telecommunications company’s revenues rose modestly.
Total revenues moved up 2% annually to $30.5 billion in the June quarter. Revenues of the Connectivity & Platforms segment remained broadly unchanged, while Content & Experiences revenue moved up 4%.
Adjusted earnings increased 12% year-over-year to $1.13 per share during the three-month period. Net income was $4.25 billion or $1.02 per share, compared to $3.40 billion or $0.76 per share in the prior-year quarter.
The consistent investments we’ve been making in our growth businesses continue to generate strong results and position us extremely well both now and into the future. Second quarter operational and financial performance was excellent and included a double-digit increase in Adjusted EPS and significant free cash flow generation,” said Brian Roberts, Comcast’s CEO.