Fully-owned NBCUniversal boosts Comcast second-quarter results above Street estimates

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In this Tuesday, Feb. 15, 2011, photo, a Comcast logo is seen on a Comcast truck in Pittsburgh. Comcast Corp. reports quarterly financial results before the market opens on Wednesday, July 31, 2013. (AP Photo/Gene J. Puskar)

NEW YORK, N.Y. – The decision by Comcast Corp., the country’s largest cable company, to buy out General Electric in NBCUniversal looks like a smart one, as the media conglomerate posted strong results for the second quarter.

NBCUniversal posted a second-quarter revenue increase of 9 per cent to $6 billion, well above analyst estimates.

As a whole, Comcast earned $1.73 billion, or 73 cents per share, in the April to June period. That’s up from $1.35 billion, or 50 cents per share, in the same period a year earlier.

Overall revenue rose 7 per cent to $16.3 billion from $15.2 billion.

Analysts polled by FactSet had expected earnings of 63 cents per share on revenue of $16 billion.

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