Comcast Corp. profit up 30 percent to $1.87B in the first quarter

Nathan Andrada – Fourth Estate Cooperative Contributor

New York, NY, United States (4E) – Comcast Corp. reported on Tuesday a 30 percent rise in net income in the first quarter as ad revenue grew at broadcast network NBC.

The results topped analysts’ estimates and its stock price climbed more than 2 percent in premarket trading.

Net income in the quarter ended March climbed to $1.87bn, or 71 cents a share, from $1.44bn, or 54 cents a share from the previous year.

Revenue surged 14 percent to $17.41bn from $15.31bn, compared with the $16.99bn projected by analysts.

Revenue at NBCUniversal advanced 29 percent to $6.88bn, boosted by 5 percent growth in cable services revenue to $10.76bn.

Comcast, the biggest cable company in the U.S., has 22 million video customers and 19.8 Internet users. The company’s $45bn takeover of rival Time Warner Cable Inc. is expected to go through a year-long review.

Regulators are reviewing whether the deal would give the combined company undue pricing power over customers and excessive leverage with programmers.

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