Better subscriber numbers, higher revenue per subscriber, and higher advertising helped Comcast beat Wall Street expectations.
The company grew earnings 12 percent over last year's quarter and revenue 3.8% percent. Cash flow — that key metric of growth in the cable industry — also posted growth — free cash flow up 38.1 percent in the quarter, thanks largely to a 20 percent drop in capital expenditures.
It's clear these numbers show that Comcast is doing a good job competing in this crowded marketplace, but it also says quite a bit about the economy and the media industry.
Good news for media giants — Comcast's ad revenue grew a whopping 24 percent last quarter, its first quarterly ad growth since the first quarter of 2008. And it's a pretty dramatic turnaround from the year-ago quarter. This bodes well for CBS, Disney, News Corp, Discovery and other companies who rely on broadcast and cable ad revenue. (Note: Comcast is hoping to acquire NBC Universal. Both CNBC and NBC Universal are owned by General Electric.)