NBC’s Rio Olympics Pushes Comcast Past Q3 Forecasts

NBC’s Rio Olympics Pushes Comcast Past Q3 Forecasts

The umbrella corporation unveiled its third-quarter 2016 financials early Wednesday morning, topping media analysts forecasts at both its top and bottom lines.

Wall Street had forecast earnings per share (EPS) of 91 cents on $21.16 billion in revenue, per Yahoo Finance.

“I’m pleased to report that our businesses generated double-digit revenue and operating cash flow growth for the third quarter of 2016,”Roberts, chairman and CEO of Comcast Corporation, said in the Q3 report.

Cable delivered solid operating cash flow growth coupled with great customer metrics, and has now added 170,000 video subscribers over the past twelve months.

“The Rio Olympics were the most profitable and successful games in our history, and demonstrated our ability to deliver an unparalleled entertainment experience through NBCUniversal together with Comcast Cable and the X1 platform,” he added.

NBCUniversal reported operating cash flow growth of over 30 percent, benefitting from the Olympics, continued growth at our Theme Parks, and the theatrical success of ‘The Secret Life of Pets’ this quarter.

Read original story NBC’s Rio Olympics Pushes Comcast Past Q3 Forecasts At TheWrap