Comcast stock was on the rise Thursday following the release of its earnings report for the third quarter of 2018.
The earnings report for the third quarter of the year saw Comcast (NASDAQ:CMCSA) reporting earnings per share of 65 cents. This is up from the company’s earnings per share of 51 cents from the same time last year. It is also good news for Comcast stock by beating out Wall Street’s earnings per share estimate of 61 cents for the quarter.
During the third quarter of 2018, Comcast reported net income of $2.90 billion. This is better than the company’s net income of $2.69 billion that was reported in the third quarter of the previous year.
Operating income reported by Comcast for the third quarter of the year came in at $4.84 billion. The telecommunications company reported operating income of $4.78 billion during the same period of the year prior.
Comcast also reported revenue of $22.14 billion for the third quarter of 2018. This is an increase over the company’s revenue of $21.08 billion from the third quarter of 2017. It is also giving Comcast stock a boost today by coming in above analysts’ revenue estimate of $21.82 billion for the period.
Comcast notes that it is also going to be paying out a dividend to investors. This dividend is 19 cents for each share of Comcast stock. The dividend will be payable on Jan. 29, 2019 to shareholders on record as of Jan. 2, 2019.
CMCSA stock was up 3% as of Thursday afternoon, but is down 16% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
