Comcast Corporation (NASDAQ:CMCSA), the country’s biggest cable company, announced a 30% profit rise in the Q1, surpassing forecasts on the strength of Super Bowl advertising and its popular broadband service.
The Philadelphia-based cable firm stated Wednesday that its net income increased to $1.224 billion, or 45 cents a share, for the January to March period from $943 million, or 34 cents a share, a year before.
Analysts surveyed by FactSet were anticipating earnings of 42 cents a share for the most recent quarter
Revenue increased to $14.9 billion, higher than analysts’ anticipation of $14.4 billion. The rise was 9.6% as compared to the shared cable and NBC Universal results a year earlier.
Comcast’s acquisition of a majority stake in NBC Universal, which holds TV channels and movie studios, closed at the close of January previous year.
NBC Universal’s results increased in the quarter. It comprised a third of Comcast’s revenue, but increased much faster, at 18% from previous year. Revenue at the NBC broadcast network increased 37% because of the Super Bowl. Fox broadcast it previous year.
Exclusive of the Super Bowl, NBC’s revenue increased 17%, helped by enhancing prime-time ratings and shows like “The Voice” and “Smash.”
At Universal Studios, revenue increased 22% on the theatrical victory of “Dr. Seuss’ The Lorax” and “Safe House.”
Comcast shares dropped 83 cents, or 2.7%, to $29.77 in early trading Wednesday. On Tuesday, the shares marked $30.88, the maximum price in 12 years.
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