Tokyo Olympics, Broadband Spark Rise in Q3 Profit for Comcast

Comcast saw its third-quarter profit soar due to its massive broadcast of the Tokyo Olympics across NBCUniversal as well as an uptick in broadband customers hunkered down at home during the coronavirus pandemic, even as the company’s traditional cable business showed new signs of erosion. The Philadelphia owner of the Comcast cable empire and the NBCUniversal entertainment conglomerate said profit in the third quarter came to $4.04 billion, or 86 cents per share, compared with $2.02 billion, or 44 cents per share, in the year-earlier period. Revenue spiked 18.7% to $30.3 billion in the quarter, compared with $25.5 billion in… Read Full Article