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.

Results for CMCSA
Laci Jack
24 Apr 14 16:44:05
Get more info on $CMCSA $CMA $TROW $LGND #newsletter http://t.co/PGpn0PQ0Ed
Informer
24 Apr 14 16:40:06
$CMCSA: FCC pushes back against criticism over Internet traffic plan http://t.co/nWbInlkXRF
Angelo Chirillo
24 Apr 14 16:36:33
$CMCSA Netflix sees competition down, fees up if Comcast, TWC combine http://t.co/Sp5wPNM2Iu
ARK Web x.0
24 Apr 14 16:32:08
If @FCC net rules pass in May, will $AAPL announce in June it's launching a hi-speed #streaming service with $CMCSA? http://t.co/1BYSuvKvdo
Stock News 24
24 Apr 14 16:19:15
$CMCSA - FCC pushes back against criticism over Internet traffic plan -> http://t.co/JHdISeuf8E #stock #stocks #stockaction
Daniel Ernst
24 Apr 14 16:19:12
All this $nflx $cmcsa net neutrality banter should be positive for $GME $OUTR
anime
24 Apr 14 16:13:50
RT @MKTWgoldstein: Comcast army in motion, filings show http://t.co/sXfKhAsnGY via @POLITICO $CMCSA
Informer
24 Apr 14 16:12:37
$CMCSA: [video] NHL legends, playoffs & stocks http://t.co/HzzKeK3exx
Yahaira Landry
24 Apr 14 16:08:32
Are you looking for winners like $SHW $CMCSA $PENN $CADX #financialnews http://t.co/KcDeebARUm
Angelo Chirillo
24 Apr 14 16:04:02
$CMCSA US proposes pay-for-priority Internet standards http://t.co/FXPhUTuLwV
12Stocks.com
24 Apr 14 16:01:07
S&P100 #Stocks Trend $AAPL $TXN $AMZN $CAT $AIG $FCX $SO $DVN $AEP $F $MDLZ $APA $WMT $CMCSA $COST $EMR $GD $C @ http://t.co/cKkr8ctphu
Angelo Chirillo
24 Apr 14 15:58:03
$CMCSA US proposes pay-for-priority Internet standards http://t.co/XOVIjAh5ZT
Stock News 24
24 Apr 14 15:49:12
$CMCSA - [video] NHL legends, playoffs & stocks -> http://t.co/tOjc78IEOj #stock #stocks #stockaction
Angelo Chirillo
24 Apr 14 15:42:07
$CMCSA Billionaire Ken Fisher Loves These 3 Under-the-Radar Dividend Stocks http://t.co/uqCCzXFHNx
Kenny
24 Apr 14 15:31:52
RT @Benzinga: Could A #Ruling Against #Aereo Kill The #Cloud? $CBS $CMCSA $DIS http://t.co/2wfPxRURkB @jrpro62
Angelo Chirillo
24 Apr 14 15:30:06
$CMCSA [$$] Netflix Reaches Set-Top Box Deal http://t.co/FAQuLowRC7
GavinGreenberg
24 Apr 14 15:12:36
$CMCSA: [$$] Netflix Reaches Set-Top Box Deal http://t.co/2nW4qd9hk1
GavinGreenberg
24 Apr 14 15:12:35
$CMCSA: Billionaire Ken Fisher Loves These 3 Under-the-Radar Dividend Stocks http://t.co/RPt5TVbgQR
Antoine Gara
24 Apr 14 15:01:35
Not surprised $CMCSA accused $NFLX of a House of Cards neutrality scare. I compared Reed Hastings to Frank Underwood: http://t.co/4sUaGHUlf7
Stock Herald
24 Apr 14 14:55:06
$CMCSA: Netflix sees competition down, fees up if Comcast, TWC combine http://t.co/aUIJWxQCFz
4-traders.com
24 Apr 14 14:55:03
Netflix Reaches Set-Top Box Deal -- Update http://t.co/jcvk6sojLk $CCA $AAPL $CMCSA $NFLX $TIVO $CCT
Stock News 24
24 Apr 14 14:49:02
$CMCSA - Billionaire Ken Fisher Loves These 3 Under-the-Radar Dividend Stocks -> http://t.co/7U4SCQEFbG #stock #stocks #stockaction
stocknews247
24 Apr 14 14:47:19
$CMCSA - [$$] Netflix Reaches Set-Top Box Deal -> http://t.co/XEOKteJw6b #stock #stocks #stockaction
Angelo Chirillo
24 Apr 14 14:35:06
$CMCSA Comcast owned Fandango to buy Movieclips http://t.co/Do5vsLDAjx
Angelo Chirillo
24 Apr 14 14:30:15
$CMCSA Comcast owned Fandango to buy Movieclips http://t.co/BhY8ySrq9E
Investor Wand
24 Apr 14 14:27:07
Is $CMCSA a BUY? Pacific Crest Securities thinks so:http://t.co/bafbCmV0zP
Jim Probasco
24 Apr 14 14:15:38
The End Of Net Neutrality, Or A New Attempt At Fairness? $AAPL $CMCSA $GOOG http://t.co/b69l7bdrJA via @benzinga
MarketNews
24 Apr 14 14:10:09
$CMCSA - Netflix sees competition down, fees up if Comcast, TWC combine -> http://t.co/hDdHATEqX6 #stock #stocks #stockaction
Angelo Chirillo
24 Apr 14 14:07:04
$CMCSA Netflix says Comcast/TWC deal bad for video providers http://t.co/p2stFY3olW
Informer
24 Apr 14 13:51:18
$CMCSA: The 2014 M&A Boom: Almost $1 Trillion and Growing http://t.co/KJ6tRF06bD
Babara Blodgett
24 Apr 14 13:41:21
Are you considering buying $ESRX $HRC $CMCSA $FB #financial http://t.co/gdr2Xkoy0q
Major Brown
24 Apr 14 13:30:03
Whats going on with $BXP $CMCSA $COST $DO #wealthmanagement http://t.co/IUQ6D7rZ4p
US Banking News
24 Apr 14 13:27:01
Insider Selling: Comcast SVP Sells 1,349 Shares of Stock $CMCSA http://t.co/4vtPgzeEp6
US Banking News
24 Apr 14 13:27:00
Insider Selling: Comcast CFO Sells 19,331 Shares of Stock $CMCSA http://t.co/ezfDxszvww
Market Int Center
24 Apr 14 13:26:33
Comcast $CMCSA Showing Support Near $50.44 ( http://t.co/QqCN40acwT )
Ticker Report
24 Apr 14 13:26:18
Insider Selling: Comcast SVP Sells 1,349 Shares of Stock $CMCSA http://t.co/wWsexClUkc
Informer
24 Apr 14 13:18:38
$CMCSA: Comcast owned Fandango to buy Movieclips http://t.co/hNii1pN7wp
$Stocknewsalerts
24 Apr 14 13:17:15
$CMCSA New SEC Document(s) for Comcast
Daniel Ernst
24 Apr 14 13:14:00
$NFLX latest post on net neutrality $CMCSA $TWC http://t.co/knvfMR1tNi
Swing Trade Alerts
24 Apr 14 13:06:28
THEFLYNEWS:$NFLX $CMCSA $TWC Netflix VP of content delivery discusses concerns about Comcast deal in post: Full Story http://t.co/fKYjySTQhW
stocknews247
24 Apr 14 13:02:19
$CMCSA - The 2014 M&A Boom: Almost $1 Trillion and Growing -> http://t.co/14eiV8VnSC #stock #stocks #stockaction
CNNMoney Investing
24 Apr 14 13:01:35
RT @LaMonicaBuzz: Doggone it, Netflix really likes Al Franken. Check out $NFLX letter to Senator Stuart Smalley on $CMCSA-$TWC deal. http:/…
$Stocknewsalerts
24 Apr 14 13:01:13
$CMCSA New SEC Document(s) for Comcast
InsiderTradingWire
24 Apr 14 13:00:15
Michael Angelakis J, Vice Chairman and CFO of Comcast Corporati Sells $1,939,490 Worth of $CMCSA - #Form4 ... - http://t.co/QwoVhGgNPi
12Stocks.com
24 Apr 14 12:58:42
Nasdaq100 #Stocks Trend $NXPI $CHTR $NVDA $SNDK $AVGO $MDLZ $CMCSA $COST $GILD $MU $VRTX $ILMN $BIIB $MAR $EXPD @ http://t.co/wz4pxpINCJ
12Stocks.com
24 Apr 14 12:58:41
S&P100 #Stocks Trend $FCX $AIG $DVN $MDLZ $CMCSA $APA $EMR $MRK $COST $GILD $MS $WAG $BMY $JNJ $UPS $BA $GD @ http://t.co/cKkr8ctphu
LoveStockNews
24 Apr 14 12:57:07
$CMCSA - Comcast owned Fandango to buy Movieclips -> http://t.co/yf3KkfOMO8 #stock #stocks #stockaction
The Fly
24 Apr 14 12:56:48
$NFLX $CMCSA $TWC Netflix VP of content delivery discusses concerns about Comcast deal in post: Full Story http://t.co/XjpZvx8TXH
Paul R. La Monica
24 Apr 14 12:36:17
Doggone it, Netflix really likes Al Franken. Check out $NFLX letter to Senator Stuart Smalley on $CMCSA-$TWC deal. http://t.co/EevsuGFuLD
Yahaira Landry
24 Apr 14 12:29:04
Couple of Stocks you should Watch $IVZ $HOT $CMCSA $IR #financial http://t.co/6rLWS0zboI
				
				
  +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.