Why Comcast Stock Is Soaring Today
Shares of media giant Comcast (NASDAQ: CMCSA) were 8% higher at 3 p.m. EST on Thursday, following the release of a solid fourth-quarter earnings report in the early morning.
Total revenue fell 2.4% year over year to $27.7 billion. Rising high-speed internet sales fell short of balancing out cord-cutting trends in the voice and video segments. The NBCUniversal content studio also saw sales fall 18% due to weak interest in every content category and a 63% drop in theme park revenue. Adjusted earnings fell 29% to $0.56 per share.
The analyst consensus had called for earnings near $0.48 per share on sales in the neighborhood of $26.8 billion.
Source Fool.com
