Comcast (CMCSA) - Get Report shares rose in premarket trading Thursday after it beat expectations for revenues and earnings in the second quarter due to strong performances at the box office as well as in the television and theme parks divisions.
The cable company declared revenue of $21.16 billion for the second quarter, up 9.8% on the same period one year ago and modestly ahead of the Factset consensus for sales of $20.8 billion. At the bottom line, Ebitda came in at $7.09 billion, while earnings per share of $0.52 beat analyst forecasts by some 8.3%.
Comcast stock rose 1.58% to $39.97 in premarket trading Thursday, which pushes the stock's year-to-date gain over the 15% threshold.
"We delivered terrific results during the second quarter, highlighted by 10.0% growth in Adjusted EBITDA, which continued our strong progress in 2017. Thanks to broad-based momentum across our businesses, our first half Adjusted EBITDA growth is the fastest in six years," said chairman and CEO Brian Roberts.
The fastest growing division during the period was filmed entertainment, which saw revenue growth of 59.6% thanks to the box office hit Fate of the Furious, while NBCUniversal and theme parks revenues grew by 17.3% and 15.6% respectively.
Comcast is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio . Want to be alerted before Cramer buys or sells CMCSA? Learn more now.