Comcast’s commercial business reported strong quarterly sales growth in the quarter, with the company increasing its revenue from its cable and wireless businesses.
The company reported adjusted profit of $0.72 per share on revenue of $6.4 billion for the quarter ended March 31.
Revenue increased 10.6% year-over-year to $5.2 billion.
The net income for the third quarter was $0, or 2 cents per share, compared to $0 per share in the second quarter, Comcast said.
Revenue grew 15.4% year over year to $4.3 billion.
Comcast also posted a net loss of $1.18 billion on revenue $3.6 billion for fiscal year 2018.
Net income for Comcast was $1,821 million, or 4 cents per diluted share, up from $1 billion, or 3 cents per common share, in the same period last year.
Commodities and other revenues, which included cable and satellite revenue, were up 4.5% year to date to $7.9 billion.
Net revenue for the company was $734 million, up 9.2% from $717 million in the previous fiscal year.
Comcast also said that cable and broadband video was up 16% year on year to 5.5 billion, up 17% from 4.9 million in fiscal year 2017.
Comstock stock rose nearly 7% in after-hours trading after the company posted a strong quarterly result and the lowest quarterly revenue decline in Comcast’s history.
The results beat analysts’ estimates for a net profit of just $0 in the third-quarter.