logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Comcast Beats Earnings Estimate on Improved Revenue from Subsidiary NBCUniversal

  +Follow July 31, 2013 11:10AM
Share:
Tickers Mentioned:

The quarter going into the summer has traditionally been a tough one for telecom companies, as college students go home en masse, turning off their cable and phone service. But despite this historically lean time for cable companies, Comcast Corp. (CMCSA) announced impressive earnings July 30 in their second quarter 2013 earnings report. The Philadelphia, Pa.-based company beat analyst expectations and posted their healthiest profits since the Great Recession of 2008, thanks to increased broadband subscriptions and greater revenues from Comcast subsidiary NBCUniversal.

While Comcast did lose 159,000 TV subscribers the telecom company added 187,000 broadband subscribers and further increased their foothold in the entertainment industry. Comcast acquired a majority of NBCUniversal from General Electric Company (GE) in December 2009, and completed the takeover of NBC in March 2013 at a price of $16.7 billion.

The move brought the attention of government officials, who feared that Comcast, as both a cable provider and network owner, would violate monopolization laws. Despite those fears, the merger – which added several prominent cable channels and a large stake in internet streaming company Hulu to Comcast’s roster – has so far avoided antitrust challenges, and has provided a robust injection of advertising revenue into the company.

NBCUniversal revenue rose 8.9 percent to $6 billion. The division’s operating cash flow skyrocketed 21 percent to $1.19 billion. Comcast was buoyed by improved ratings from NBC, which had gone from being the undisputed king of network in the 90s to being dead last, lagging behind the three other majors (ABC, CBS and Fox), the CW, and even Spanish language channel Univision. While the network still has ground to cover, it has seen improving numbers recently, jumping to fourth in "the demo" (the adults aged 18-49 demographic coveted by advertisers) and second in total viewers overall, largely thanks to the success of popular singing competition The Voice and the top rated television show in the country, America's Got Talent.

The giant cable provider also saw increased profits from their filmmaking subsidiary Universal Pictures. The latest installment of the Fast and the Furious franchise, Fast & Furious 6, was a major smash, ringing in $741.16 million in worldwide box office revenues during the quarter.

Comcast reported net income of $1.73 billion, or $0.65 per share, versus the $1.35 billion, or $0.50 per share from the same period a year ago. Revenue for the quarter was $16.3 billion, as compared to $15.2 billion from the previous year. Analysts were expecting a profit of $0.63 per share on revenues of $16 billion.

Comcast is up 5.44 percent to $45.04 a share. The stock is up 10.88 percent on the year.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for CMCSA
Bidness Etc
1 Oct 14 19:00:00
The Federal Communications Commission is contemplating regulations for online video service providers http://t.co/VRnTBcB5o0 $NFLX $CMCSA
Peter Bardens
1 Oct 14 15:31:50
$CMCSA Comcast And Time Warner Merger Delayed http://t.co/gkU3pYM3Hn
Consestimate
1 Oct 14 14:46:28
Comcast Protests Houston Sports Channel's New Sale Proposal. $CMCSA. http://t.co/RoEkBnQUBW
Jack Trader
1 Oct 14 14:30:53
$CMCSA Does Comcast Corporation's $2.5 Billion Buyback Make Sense? http://t.co/s0nATVn3JD
John Ablemann
1 Oct 14 14:30:52
$CMCSA Comcast And Time Warner Merger Delayed http://t.co/WoLjsiRfjn
John Earl Burnett
1 Oct 14 14:27:04
RT @THRmovies: #Universal Taps #NicholasCarpou as #DomesticDistribution #President http://t.co/BOOS7czMhR $CMCSA
$Stocknewsalerts
1 Oct 14 13:31:19
$CMCSA New SEC Document(s) for Comcast From our Stock News Alerts App
4-traders.com
1 Oct 14 13:05:14
Comcast : Behind The Lens ; Cameraman For Orioles Games Is A Conestoga Valley Gradbrownstown Native Is Read... http://t.co/2uVXwZ5RYd $CMCSA
Bidness Etc
1 Oct 14 13:01:55
Will #FCC Regulate Online Web Services Next? http://t.co/HoInzuBqRO $NFLX $CMCSA $AMZN $DISH $SNE
Peter Jungmann
1 Oct 14 12:30:43
$MVIS $CMCSA Comcast improves the ecosystem for PicoP adoption significantly! http://t.co/OEIX4e9rZH
Stock Moo
1 Oct 14 11:49:23
$cmcsa: [$$] Comcast Protests Houston Sports Channel's New Sale Proposal http://t.co/NBrtHnlkbH
Bidness Etc
1 Oct 14 11:37:28
Viacom TV Blocked By Suddenlink Over Carriage Fee Dispute http://t.co/OIYd9MA5ih $VIAB $CMCSA $DTV
Stockaholics
1 Oct 14 11:26:21
New, SECRET penny stock alert coming today! Check it out: http://t.co/A2y8IBJKSf $CMCSA $INTC $AMGN
Antonio Amigo
1 Oct 14 11:11:44
@jimcramer what does $CMCSA have to do with Ebola? No currency issue there. Yes your employer 😝
Mehrdad Ketabchi
1 Oct 14 10:59:54
#Comcast service sucks. $cmcsa
Stock Moo
1 Oct 14 10:49:24
$cmcsa: Comcast to Drop Xfinity Streampix Service on Weak Demand http://t.co/G8fiJ7dOpB
Nico Starr
1 Oct 14 10:02:22
@Stephanie_Link Agree. And $TWC is trading near the CHTR $139 all-cash bid while $CMCSA bid is $159! & Analysts say it worth $180+
Stephanie Link
1 Oct 14 09:50:52
@GraduateInvestr just like that its lagged so much. $CMCSA.
The Vertere Group
1 Oct 14 09:32:25
pure OTT out-of-market broadband video is $CMCSA's nixed-merger Plan B RT via @peterlauria3 http://t.co/p3t7ErKWeS #GreatUnbundling
Timhanlon
1 Oct 14 09:32:00
pure OTT out-of-market broadband video is $CMCSA's nixed-merger Plan B RT via @peterlauria3 http://t.co/yewgTszmYS #GreatUnbundling
Stockaholics
1 Oct 14 08:43:16
New, SECRET penny stock alert coming today! Check it out: http://t.co/pizgVE756a $CMCSA $INTC $AMGN
Media Sentiment
1 Oct 14 08:42:54
$CMCSA received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 221
Time & Model
1 Oct 14 08:41:55
More Cable Companies Take TV Off Menu http://t.co/OwG7zFbDSK $VIAB $CMCSA $DIS $TWX $CVC $GHC $DTV $DISH
4-traders.com
1 Oct 14 08:40:03
Comcast : Calling http://t.co/8juyPtKwut $CMCSA $TWC
Peter Lauria
1 Oct 14 07:45:56
Comcast inches closer to world domination..http://t.co/cYF6KXpu4H $CMCSA $NFLX
FLHRC労働キング
1 Oct 14 07:44:52
RT @CNNMoneyInvest: Worth knowing: The top 5 companies lobbying Washington since 2009: $GE $T $BA $NOC $CMCSA http://t.co/JSxhtYT1Ye http:/…
Darth HotMess
1 Oct 14 07:43:14
RT @CNNMoneyInvest: Worth knowing: The top 5 companies lobbying Washington since 2009: $GE $T $BA $NOC $CMCSA http://t.co/JSxhtYT1Ye http:/…
IntoOptions
1 Oct 14 07:38:42
$CMCSA just absolutely hammered today! Looks like it wants 52.50......
CNNMoney Investing
1 Oct 14 07:38:18
Worth knowing: The top 5 companies lobbying Washington since 2009: $GE $T $BA $NOC $CMCSA http://t.co/JSxhtYT1Ye http://t.co/T1Zl2w4PsH
Nico Starr
1 Oct 14 06:59:04
@petenajarian Pete, Hi Steph, is $CMCSA a good US-centric play with no Intl/FX exposure? Is $TWC the cheaper way into Comcast? Thx
Nico Starr
1 Oct 14 06:58:40
@stephenLweiss Stephen, Hi Steph, is $CMCSA a good US-centric play with no Intl/FX exposure? Is $TWC the cheaper way into Comcast? Thx
Nico Starr
1 Oct 14 06:58:16
@murphyrosecliff Hi Murph, Hi Steph, is $CMCSA a good US-centric play with no Intl/FX exposure? Is $TWC the cheaper way into Comcast? Thx
Nico Starr
1 Oct 14 06:57:48
@Stephanie_Link Hi Steph, is $CMCSA a good US-centric play with no Intl/FX exposure? Is $TWC the cheaper way into Comcast? Thx
Nico Starr
1 Oct 14 06:56:56
@jimcramer @davidfaber @SquawkStreet Jim, is $CMCSA a good US-centric plays with no Intl/FX exposure? Is $TWC the cheaper way into Comcast?
Augie Ray
1 Oct 14 05:58:44
Top 10 companies lobbying Washington: $945M spent since 2009. http://t.co/5CyzWLjgK1 $GE $T $BA $NOC $CMCSA $VZ $FDX $XOM $LMT $PFE $GOOG
US Banking News
1 Oct 14 05:50:42
Comcast Receives “A-” Credit Rating from Morningstar $CMCSA http://t.co/M7B4opociP
InterCooler
1 Oct 14 05:38:40
Comcast Receives “A-” Credit Rating from Morningstar $CMCSA http://t.co/zOFRTEhc6P
NASDAQ
1 Oct 14 05:32:28
$CMCSA - Bay Area Comcast Customers Can Now Turn Devices in Their Home into a TV http://t.co/j9a5V9vHZU
Media Sentiment
1 Oct 14 05:29:53
$CMCSA received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 104
Market Int Center
1 Oct 14 05:28:30
Comcast $CMCSA Showing Bearish Technicals With Resistance At $54.79 ( http://t.co/O1GVNu4sZo )
Stockaholics
30 Sep 14 16:13:50
FPFI closed up 250% today! Huge Update and new pick coming: http://t.co/wSPWepHL5n $CMCSA $INTC $AMGN
Stock Moo
30 Sep 14 15:48:53
$cmcsa: Elisabeth Murdoch to end Shine era http://t.co/QRiTVizigY
4-traders.com
30 Sep 14 15:00:02
Comcast : Correction http://t.co/WxT54nJn5W $CMCSA
$Stocknewsalerts
30 Sep 14 14:16:28
$CMCSA New SEC Document(s) for Comcast From our Stock News Alerts App
4G Spectrum LLC
30 Sep 14 13:45:47
RT @WaltBTIG: Should the @FCC incentive auction get pushed to 2016? Would Comcast or Google show? http://t.co/KClPkbFtbg $CMCSA $GOOG
haroldfeld
30 Sep 14 13:35:39
RT @WaltBTIG: Should the @FCC incentive auction get pushed to 2016? Would Comcast or Google show? http://t.co/KClPkbFtbg $CMCSA $GOOG
Walter Piecyk
30 Sep 14 13:18:57
Should the @FCC incentive auction get pushed to 2016? Would Comcast or Google show? http://t.co/KClPkbFtbg $CMCSA $GOOG
Douglas Ehrman
30 Sep 14 12:53:56
TV and visual entertainment is changing - the battle for your eyeballs is on!! @SeekingAlpha http://t.co/Xhkt5PR3Qw $CMCSA $DTV $T #profit
Stock Moo
30 Sep 14 12:48:48
$cmcsa: U.S. regulators look into treating Internet TV like cable http://t.co/0rRZs5euGS
Pairs Trader
30 Sep 14 12:28:52
Pair: $APAGF / $CMCSA can potentially return 2.29% if it reverts to the mean. Details: http://t.co/XIivZdIAg2
				
				
  +Follow July 31, 2013 11:10AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.