Comcast Stock Is a Winner -- Plus Jim Cramer's Take

Shares of Comcast (CMCSA) are up almost 11% year to date. And even without the Olympics, Comcast is a winner.

Two weeks ago, Comcast reported third-quarter fiscal 2016 results of 92 cents per share, one cent better than the consensus estimate. Revenue rose 14.2% to $21.32 billion, vs. the $21.15 billion consensus. The results include $1.6 billion in revenue from the Rio Olympics. Excluding the Olympics, revenue grew 5.5%. Operating income increased 11% to $4.4 billion.

Cable communication revenue increased 6.9% to $12.6 billion, driven by the increase in high-speed internet video and business service revenue. The company ended the quarter with 28.3 million subscribers.

Broadcast television revenue increased 56.6% to $3.1 billion, driven by a 92.5% increase in advertising for the Olympics. Filmed entertainment fell 7.9% to $1.8 billion due to the acquisition of DreamWorks. Theme park revenue jumped 16.2% to $1.4 billion due to the successful opening of "The Wizarding World of Harry Potter" attraction.

Even without the one-time boost from the Olympics, Comcast continues to produce outstanding results. Video saw its best third quarter in 10 years, and internet broadband results were the best in seven years.

NBC won all 17 nights of prime-time television during the Olympics. In the 18 to 49 demographic, NBC prime time ratings more than quadrupled the other broadcast ratings combined. Over 100 million Americans watched the Olympics online. Because of the election, MSNBC ratings are up 95%.

Well over 40% of cable subscribers are using the X1 platform from Xfinity. With X1, consumers can view internet content, watch live television, download apps like Hulu and YouTube, record four shows at once, and watch on-demand movies. The company also announced it would roll out gigabit Ethernet service in early 2017 to customers in Oregon and Southwest Washington state. The company is aggressively deploying its DOCSIS 3.1 technology, which uses existing cable infrastructure to deliver these super fast speeds to customers.

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