Comcast posts higher 2Q profit
NEW YORK (AP) — Comcast, the country's largest cable TV company, is bucking the trend among cable companies by making more money from its TV subscribers.
Comcast Corp. beat expectations with its second-quarter results, helped by the newly acquired NBC Universal business.
The Philadelphia-based company reported net income of $1.02 billion, or 37 cents per share, for the April to June period. That's up 16 percent from $884 million, or 31 cents per share, a year ago.
Excluding a tax adjustment and costs related to the NBC deal, which closed in January, earnings came to 42 cents per share, beating the 41 cents average expected by analysts polled by FactSet.
Revenue rose 51 percent to $14.3 billion. Analysts were expecting $13.7 billion. Revenue from last year's quarter didn't include NBC Universal.