Hulu Sale Boosts Comcast Q2 Despite Cord Cutting, Ad Sales Downturn
News Source : Variety
News Summary
- Comcast said its second quarter profit was boosted by the sale of its remaining stake in the Hulu streaming service to Disney.
- The Philadelphia cable and entertainment giant said net income in the second quarter totaled $11.12 billion, or $2.98 a share.
- Adjusting for one-time items, including that Hulu sale, Comcast reported earnings of $1.25 per share.
- Revenue rose 2% to $30.31 billion.
- Still, Comcast said it lost 226,000 broadband accounts, most of them from residential customers, and 325,000 pay-TV customers.
Comcast said its second quarter profit was boosted by the sale of its remaining stake in the Hulu streaming service to Disney and performance at its theme parks, even as the company contended with su [+1389 chars]
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