Oct 31 (Reuters) - Comcast ( CMCSA ) is considering a

spin-off of its cable networks business that includes CNBC and

MSNBC, the media and broadband giant said on Thursday, after

strong quarterly results on the back of box office hits and an

Olympics-driven surge in ad sales.

Comcast ( CMCSA ) president Mike Cavanagh said the potential spin-off

would exclude the NBC broadcast network and the Peacock

streaming service, though the company was interested in seeking

a partner for the streamer to help grow that business.

"We are now exploring whether creating a new

well-capitalized company owned by our shareholders and comprised

of our strong portfolio of cable networks would position them to

take advantage of opportunities in the changing media landscape

and create value for our shareholders," Cavanagh said on a

post-earnings call.

The comments followed better-than-expected revenue for the

third quarter, which also benefited from a smaller-than-expected

decline in broadband subscribers.

Shares of the company rose 4.9% in early trading.

The company's media business saw a $1.9 billion revenue

boost from the Paris Games, its highest-ever for the Olympics,

with most of it coming from increased advertising by brands.

Its studio unit enjoyed blockbuster hits including

"Despicable Me 4" and "Twisters", which ranked among the year's

top 10 box office releases in the U.S. and Canada, according to

IMDb's Box Office Mojo.

The unit's revenue rose 12.3% from a year earlier to $2.83

billion in the quarter, exceeding expectations of $2.75 billion

according to analysts' estimates compiled by LSEG.

Comcast's ( CMCSA ) studio and media strength also helped make up for

a 5.3% decline in revenue at its theme parks business, which

grappled with a shift in customer spending towards international

travel and cruises.

The company is set to open its newest theme park, Universal

Epic Universe in Florida, on May 22 as part of its efforts to

encourage guests to visit and increase spending amid tough

competition in the Orlando market.

The owner of Xfinity-brand of internet and cable services

lost 87,000 broadband customers in the September quarter,

compared with estimates for 143,200 losses, according to

FactSet.

The losses were primarily due to the end of the federal

Affordable Connectivity Program (ACP), which subsidized internet

access for low-income households in the U.S.

The company said excluding ACP's impact, broadband saw net

additions of 9,000.

Total revenue was $32.07 billion, above estimates of $31.66

billion according to data compiled by LSEG, with media revenue

rising 36.5%.

Its Peacock streaming service added 3 million paid

subscribers in the quarter, bringing the total to 36 million.

Comcast ( CMCSA ) also lost 365,000 video subscribers, compared with

expectations for 420,300, according to FactSet, as customers

switch from traditional TV to streaming services.