Comcast 1st quarter profit beats Street on upbeat NBC results
PHILADELPHIA – Comcast’s first-quarter net income rose by nearly a third as ad revenue surged at broadcast network NBC, helped by the Winter Olympics in Sochi and Jimmy Fallon’s elevation as host of “The Tonight Show.”
Net income rose to $1.87 billion, or 71 cents per share, in the January-March quarter from $1.44 billion, or 54 cents per share a year ago.
Excluding one-time items, adjusted earnings came to 68 cents per share, beating the 64 cents expected by analysts polled by FactSet.
Revenue grew 14 per cent to $17.41 billion from $15.31 billion. That’s also higher than the $16.99 billion expected by analysts.
NBCUniversal revenue grew 29 per cent to $6.88 billion while cable services revenue grew 5 per cent to $10.76 billion.
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