Comcast Q3 Profit Drops, Revenue Up

(RTTNews) - Cable television giant Comcast Corp. (CMCSA, CMCSK) Tuesday said its third-quarter profit declined from the prior, despite a rise in revenues, as the prior year benefited from favorable income tax adjustments.

The company's Board of Directors declared a quarterly dividend of $0.25 a share on the company's common stock. The quarterly dividend is payable on January 27, 2016 to shareholders of record as of the close of business on January 6, 2016.

Attributable net income for the quarter fell to $2 billion from $2.6 billion. Earnings per share fell to $0.80 from $0.99. The prior-year results included a $724 million, or $0.28 per share benefit due to favorable income tax adjustments.

Adjusted earnings per share totaled $0.80, while it was $0.73 last year. On average, 25 analysts polled by Thomson Reuters expect earnings of $0.80 per share. Analysts' estimates typically exclude special items.

Revenue increased 11.2 percent to $18.7 billion from $16.79 billion in the prior year. Analysts expected revenues of $18.03 billion.

Video customers were 22,258,000, compared to 22,376,000 last year. High-Speed Internet Customers improved to 22,868,000 from 21,586,000. Voice customers totaled 11,336,000, compared to 11,070, 000 last year.