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Comcast Tops Estimates After Losing Fewer Cable-TV Customers

  • Cable company is taking share from phone, satellite companies
  • New X1 service aimed at dissuading customers from cord-cutting

Comcast Corp., the largest U.S. cable-TV provider, posted second-quarter profit that beat analysts’ estimates after fewer video subscribers than expected canceled service.

Profit excluding some items was 83 cents a share, Philadelphia-based Comcast said Wednesday in a statement. Analysts predicted 81 cents, the average of estimates compiled by Bloomberg. Comcast’s film business faced a tough comparison from a year earlier when it released “Furious 7” and “Jurassic World,” two blockbusters that grossed more than $1 billion each at the box office.

The company lost 4,000 cable-TV customers in the quarter, compared with a drop of 69,000 a year earlier. Three analysts surveyed by Bloomberg had projected a loss of 42,000 in a seasonally weak period when college students disconnect their cable service for summer vacation.

The shares advanced 3 percent to $69.20 at...