Comcast 2Q 17 earnings and Verizon 2Q 17 earnings were released before opening bell this morning. Comcast reported adjusted earnings of 52 cents per share on $21.16 billion in revenue, compared to the consensus estimates of 49 cents per share and $20.87 billion in revenue. In last year’s second quarter, the cable TV and Internet service provider reported 41 cents per share in adjusted earnings on $19.26 billion in revenue.
Verizon reported adjusted earnings of 96 cents per share, which was in line with consensus, on $30.5 billion in revenue, which beat the consensus of $29.86 billion. In last year’s second quarter, the mobile carrier and Internet service provider reported $30.5 billion in revenue and 94 cents per share in adjusted earnings.
Comcast 2Q 17 earnings
Comcast 2Q 17 earnings revealed a 5.5% increase in Cable Communications revenue as the company added 114,000 Cable Customer Relationships. NBCUniversal revenues grew 17.3% on the back of a 15.6% increase in Theme Parks revenue and a 59.6% increase in Film Entertainment revenue as Box Office results drove the sub-segment.
“Driving these tremendous results were the box office success of Fate of the Furious, continued increases in affiliate and retransmission revenues at our TV businesses, and impressive growth at our Theme Parks,” Comcast Chairman and CEO Brian L. Roberts said in a statement.
After the Comcast 2Q 2017 earnings results were released, the company’s stock jumped by as much as 2.41% to $40.30 in premarket trades.
Verizon 2Q 17 earnings
On a GAAP basis, Verizon 2Q 2017 earnings surged to $1.07 per share from 17 cents per share in the year-ago quarter. EBITDA was $12.4 billion, while the consolidated EBITDA margin was 40.6% or 37.2% excluding special items. In the year-ago quarter, the EBITDA margin was 28%.
The company recorded 614,000 retail postpaid net adds, of which 590,000 were postpaid smartphone net adds. The retail postpaid churn was 0.94%, while the retail postpaid phone churn was 0.7%, marking the ninth quarter in a row in which this metric was lower than 0.9%.
Fios revenue grew 4.4% year over year to $2.9 billion, while wireline revenues increased 1.2% to $7.8 billion. AOL revenues net traffic acquisition costs were flat year over year. Verizon’s Oath subsidiary, which contains AOL and the assets acquired from Yahoo, served about 1 billion unique monthly users and contributed about $7 billion in annual revenues.
Verizon expects full-year consolidated revenue to be in line with last year’s result and adjusted earnings trends for the full year to be similar to revenue trends.
After the Verizon 2Q 17 earnings were released, the company’s stock rose by as much as 3.38% to $45.90 in premarket trading.