Categories AlphaGraphs, Earnings, Technology
Infographic: Comcast (CMCSA) stock gains as Q3 results top expectations
Telecommunications company Comcast Corp. (NASDAQ: CMCSA) reported lower earnings and revenues for the third quarter of 2020. The results, however, came in above the market’s projection and the company’s stock gained early Thursday.
Adjusted earnings dropped to $0.65 per share from $0.79 per share last year, but exceeded Wall Street’s prediction. Net income, on a reported basis, was $2.02 billion or $0.44 per share, compared to $3.22 billion or $0.70 per share in the third quarter of 2019.
Revenues declined 4.8% annually to $25.53 billion during the three-month period. Analysts were looking for a smaller top-line amount. Total customer relationship net additions in cable communications were a record of 556,000.
Read management/analysts’ comments on Comcast’s Q3 results
Comcast’s stock closed the last trading session lower but gained about 2% during Thursday’s pre-market session, immediately after the announcement.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
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