Comcast profit rises 17 percent in 1Q

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Associated Press

Posted on May 1, 2013 at 5:06 AM

Updated Wednesday, May 1 at 5:06 AM

NEW YORK (AP) — Comcast Corp., the nation's largest cable company and owner of NBCUniversal, says its net income rose 17 percent in the latest quarter, powered by continued strong results from its cable operations.

The Philadelphia-based company says it earned $1.44 billion, or 54 cents per share, in the first quarter. That was up from $1.22 billion, or 45 cents per share, in the same quarter a year ago.

Analysts polled by FactSet were expecting earnings of 50 cents per share.

Revenue rose 2.9 percent to $15.31 billion. Analysts were expecting half a percent more, at $15.38 billion.

Comcast's revenue didn't grow as fast as usual because it broadcast the Super Bowl last year, but didn't this year. Excluding that effect, it says revenue would have grown 4.7 percent.

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