Comcast Beats Profit Goals As Media Sales Rise

Comcast gave investors a pleasant surprise this morning. The telecom giant beat Wall Street profit targets. Strong media sales carried the company while home internet growth slowed down.

Now big changes sit on the horizon. Comcast plans to spin off its cable media channels into a separate company. This move will create a brand new public stock for investors to trade.

Movies and studio sales drove the strong results this quarter. Broadband signs slipped as consumers tested other phone and web options. Still, total earnings crossed the finish line ahead of expectations.

Spinoffs like this give everyday traders fresh choices. You will soon have a chance to own two distinct businesses instead of one. Keep an eye on the split date as Comcast files the final paperwork.

Source: CNBC