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.


Signup for our daily newsletter and get our best articles emailed right to you!

Results for CMCSA
RB Trader
22 Oct 14 16:38:59
#Bearish flow in $CMCSA our scanners spotted yesterday was spot on today. $26M dollar trade. $SPX $VIX http://t.co/9lyS3lOdCH
RB Options Scans
22 Oct 14 16:38:31
#Bearish flow in $CMCSA our scanners spotted yesterday was spot on today $SPX $VIX http://t.co/0pisEW2QeY
RB Trader
22 Oct 14 16:38:20
#Bearish flow in $CMCSA our scanners spotted yesterday was spot on today $SPX $VIX http://t.co/KiZrDWctSe
eric
22 Oct 14 15:34:51
@jimcramer @fibonaccian1 Booyah Mr. Cramer, What do you think about $cmcsa buying $dis. Love your shows
eric
22 Oct 14 15:26:54
Booyah y'all, What do you think about $cmcsa buying $dis. Can't wait
danielo
22 Oct 14 15:05:26
RT @scottrade: #Earnings expected Thurs: $MSFT $AMZN $CMCSA $UNP $MMM- 5 largest U.S. companies by market cap. Start your research: http://…
Scottrade
22 Oct 14 15:00:50
#Earnings expected Thurs: $MSFT $AMZN $CMCSA $UNP $MMM- 5 largest U.S. companies by market cap. Start your research: http://t.co/4VwBB91Vt5
Stockaholics
22 Oct 14 14:59:45
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $CMCSA $INTC $AMGN
Consestimate
22 Oct 14 14:42:34
REFILE-UPDATE 1-US FCC pauses clock on AT&T-DirecTV, Comcast-TWC merger reviews. $T, $CMCSA, $DTV. http://t.co/0zpjXz2aVx
Matrix Ventures.
22 Oct 14 14:06:13
RT @LaMonicaBuzz: Rest up tonight. Busy day tomorrow. Earnings in morning from $GM $CMCSA $CAT $AAL $UAL $MMM $UNP $LUV. $AMZN $MSFT after …
Faisal Aslam
22 Oct 14 13:19:15
RT @LaMonicaBuzz: Rest up tonight. Busy day tomorrow. Earnings in morning from $GM $CMCSA $CAT $AAL $UAL $MMM $UNP $LUV. $AMZN $MSFT after …
Paul R. La Monica
22 Oct 14 13:15:26
Rest up tonight. Busy day tomorrow. Earnings in morning from $GM $CMCSA $CAT $AAL $UAL $MMM $UNP $LUV. $AMZN $MSFT after bell. Whew. TTFN!
Zubeyr Kamil Açıksar
22 Oct 14 13:08:02
RT @marlentweets: Important Earnings for tomorrow: $NOK $CAT $AMZN $AAL $JBLU $LUV $UAL $GM $CMCSA $CMCSK $CELG $CS $DPS $DNKN $EW $LLY $EQ…
HCPG
22 Oct 14 12:42:54
RT @sharkbiotech: big morning tomorrow for earnings $CAT $MMM $CELG $LLY $CMCSA to name a few
Dan Rosenblum
22 Oct 14 12:42:49
big morning tomorrow for earnings $CAT $MMM $CELG $LLY $CMCSA to name a few
The Fly
22 Oct 14 12:37:37
$CMCSA $UNP $MMM $ABBV $CELG $LLY $OXY $CAT $ALXN $PCP $RTN $AEP $LUV $LO $TROW $MJN $ZMH $NUE $NLSN $PLD $SIA... http://t.co/RiL3HtYQdv
Marlen
22 Oct 14 12:29:03
Important Earnings for tomorrow: $NOK $CAT $AMZN $AAL $JBLU $LUV $UAL $GM $CMCSA $CMCSK $CELG $CS $DPS $DNKN $EW $LLY $EQT $FLS $TV $JNPR
WallStreetConsensus
22 Oct 14 12:20:54
EPS 10/23 pre-market $ABBV, $CMCSA, $AAL, $JNS, $LUV, $JBLU, $UAL, $PHM, $CAT http://t.co/vSwtusA9nz http://t.co/PmFje73CHc
Comcast Philly NJ
22 Oct 14 11:58:21
We're hosting our Q3 earnings call tomorrow at 8:30 AM ET. Details >> $CMCSA http://t.co/1RVswAmBS1 #ComcastNews
Market Newswire
22 Oct 14 11:48:19
Will Comcast (CMCSA) Disappoint Earnings Estimates in Q3? - October 22, 2014 - http://t.co/ItdMiLXmVl $CMCSA #newsfeed #stocks #headlines
Thom
22 Oct 14 11:15:09
RT @Bytesfrombits: Daily Funding Report #analytics #mobile #saas #Cloud $CMCSA #inventory #SCM #social #casino $LVS @kevinrose http://t.co/…
Mr. Bytes Blog
22 Oct 14 11:10:49
Daily Funding Report #analytics #mobile #saas #Cloud $CMCSA #inventory #SCM #social #casino $LVS @kevinrose http://t.co/jNrrbC7rYq
Stockaholics
22 Oct 14 11:07:43
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $CMCSA $INTC $AMGN
CT Financial News
22 Oct 14 11:07:19
FCC Stops Clock on TWC/Comcast and DIRECTV/AT&T Reviews http://t.co/fOh1fEFAgP via @ct_fin_news #FCC $TWC $CMCSA $T $DTV $NFLX
Lauren Holmes
22 Oct 14 10:56:43
Is $CMCSA the best cable company? We think there are better opportunities. Check our thoughts here http://t.co/IhJaUAjPfb
StockEarnings.com
22 Oct 14 10:50:27
$CMCSA ER on 10/23 Before Open. Share price was UP 15 times out of last 20 Qtrs aftr ER http://t.co/ngFpU7MiHj
David McLaughlin
22 Oct 14 10:46:23
$cmcsa down 1.4% on FCC halting review of TWC purchase http://t.co/dkgAcCM3j1 via @BloombergNews http://t.co/wEvsAlIj1G
NASDAQ
22 Oct 14 10:41:03
$CMCSA - Comcast Unveils Interactive Xfinity Customer Service Center In West Hartford, CT http://t.co/1toMVw9Jln
Quantpost Service
22 Oct 14 10:21:15
$AMZN $CBS $NFLX $CMCSA News: "If Content Is King, Which Emperor Does Comcast…" http://t.co/SWtqa7uRCi Board view: https://t.co/aysmTm08oA
Seeking Alpha
22 Oct 14 10:21:10
If Content Is King, Which Emperor Does Comcast Look Like? http://t.co/w1fmsfkJyL $AMZN $CBS $NFLX $TWC $CMCSA
The Fly
22 Oct 14 10:12:11
$CMCSA $CMCSK $TWC $NFLX $DIS $FOX $FOXA Earnings Preview: Comcast reporting Q3 results as Time Warner deal pr... http://t.co/qFHlIENQKf
BUZZ Just-In
22 Oct 14 10:12:05
Track trending assets in 1 watchlist FTSE250 $CMCSA $CAT $JNJ $NFLX http://t.co/qHpQMiQP6D
TheStreet Alerts
22 Oct 14 10:09:05
Why Comcast $CMCSA Stock Is Down Today http://t.co/SSEwtOkBbb
Stock Moo
22 Oct 14 09:54:30
$cmcsa: US FCC pauses clock on AT&T-DirectTV, Comcast-TWC merger reviews http://t.co/YbZnWGJYbT
Adam
22 Oct 14 09:45:47
RT @theflynews: $T $DTV $CMCSA $TWC FCC stops 'informal clock' for review of AT&T, Comcast proposed deals: Full Story http://t.co/jpYYp7sE4h
Consestimate
22 Oct 14 09:43:38
Why Time Warner Cable's Share Buybacks Are So Smart. $TWX, $TWC, $CMCSA. http://t.co/2UD6JORTFj
Quantpost Service
22 Oct 14 09:43:07
$CMCSA News: "The FCC halts review of DirecTV-AT&T and Comcast-Time Warner…" http://t.co/Su0fp5QpaR Board view: https://t.co/Mhhmdqm288
MarketCurrents
22 Oct 14 09:43:07
The FCC halts review of DirecTV-AT&T and Comcast-Time Warner Cable mergers http://t.co/hfU254akR1 $CMCSA $TWC $DTV $T
Quantpost Service
22 Oct 14 09:40:24
$CMCSA News: "Cut The Cord Or Keep Cable? Comcast In Q3 $CMCSA …" http://t.co/70BOOhhgzj Board view: https://t.co/Mhhmdqm288
Seeking Alpha
22 Oct 14 09:40:24
Cut The Cord Or Keep Cable? Comcast In Q3 http://t.co/NdH90g8n7f $CMCSA
Consestimate
22 Oct 14 09:38:06
U.S. FCC pauses review of AT&T-DirecTV, Comcast-TWC mergers. $T, $CMCSA, $DTV. http://t.co/bXwb9t0WFn
Tek
22 Oct 14 09:30:30
@NorthmanTrader @Jesse_Livermore although $CMCSA looks ok ahead of earnings
Romaine Bostick
22 Oct 14 09:00:21
Another small speed bump for FCC reviews of $CMCSA, $T deals. http://t.co/9MU6GmHeib via @BloombergNews @TShields3
The Fly
22 Oct 14 08:12:36
$T $DTV $CMCSA $TWC FCC stops 'informal clock' for review of AT&T, Comcast proposed deals: Full Story http://t.co/jpYYp7sE4h
Skyler Talbott
22 Oct 14 08:02:00
“@comcast: We're hosting our Q3 earnings call tomorrow at 8:30 AM ET. Details >> http://t.co/9Kdz4eHPyQ $CMCSA”
Consestimate
22 Oct 14 07:57:50
This City Is Taking a Stand Against Comcast's Customer Service. Will It Matter?. $CMCSA, $TWX, $NFLX. http://t.co/FVmQEJETmN
Consestimate
22 Oct 14 07:57:42
How Time Warner Cable Is Investing Billions for Its Customers. $TWC, $TWX, $CMCSA. http://t.co/5SVcG0UiKl
Bradley
22 Oct 14 07:56:08
RT @comcast: We're hosting our Q3 earnings call tomorrow at 8:30 AM ET. Details >> http://t.co/7e6fBJVR8P $CMCSA
Comcast
22 Oct 14 07:51:40
We're hosting our Q3 earnings call tomorrow at 8:30 AM ET. Details >> http://t.co/7e6fBJVR8P $CMCSA
NASDAQ
22 Oct 14 07:02:20
$CMCSA - Comcast's Hank Fore, Regional SVP of California, Appointed to Board of Directors for Silicon Valley http://t.co/yEyedlOoq4
				
				
  +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.