Comcast Gains Customers, Revenues Rise

Comcast (CMCSA 14.55, +0.04) reported third quarter earnings results that came in ahead of the consensus estimate as the company continues to gain customers.

Comcast reported third quarter earnings of $0.33 per share, $0.08 better than the First Call consensus of $0.25.

Revenues rose 3.0% year-over-year to $8.8 billion; the consensus expected $8.85 billion.

As of Sept. 30, Comcast's video, high-speed Internet and voice customers totaled 46.8 million, an increase of 3.4% compared to the same period last year.  Comcast was able to get more from those customers as well, as the monthly average total revenue per video customer increased 5.6% to $116.91 from $110.67 in the same period last year.  The company said that the improvement reflects an increasing number of customers taking multiple products and a higher contribution from Comcast Business Services.

Comcast cut its capital expenditures to $1.2 billion in the quarter, down 6.1% from last year.

Shares of CMCSA have significantly underperformed the market year-to-date, slipping 12.8% while the S&P 500 has gained 16.6%.