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Last Update: 01-May-13 07:52 ET
Comcast shares rise 1% following beat on earnings
Comcast (CMCSA) reported first quarter earnings of $0.51 per share, excluding non-recurring items, $0.01 better than the Capital IQ consensus of $0.50, while revenues rose 2.9% year/year to $15.31 billion versus the $15.39 bln consensus. Excluding $259 million of revenue generated by the NFL's Super Bowl in the first quarter of 2012, revenue increased 4.7%. Operating Cash Flow increased 7.4% to $5.0 billion and Operating Income increased 11.2% to $3.1 billion Revenue for NBCUniversal decreased 2.4% to $5.3 billion in the first quarter of 2013 compared to $5.5 billion in the first quarter of 2012. Excluding $259 million of revenue generated by the broadcast of the NFL's Super Bowl in the first quarter of 2012, revenue increased 2.4%. Operating Cash Flow increased 17.2% to $953 million compared to $813 million in the first quarter of 2012, reflecting strong results at Cable Networks, Filmed Entertainment and Theme Parks.
"We are off to a solid start in 2013, with strong revenue and cash flow growth and record quarterly free cash flow. Cable's results highlight revenue growth in every product, led by Video and High-Speed Internet, and overall customer growth, as we continue to effectively balance financial and customer performance. NBCUniversal's businesses also generated strong first quarter performance, led by Film and Cable Networks. We completed the acquisition of NBCUniversal during the quarter and look forward to continuing to drive innovation and operational excellence to deliver superior entertainment and communications choices for consumers."
"We are off to a solid start in 2013, with strong revenue and cash flow growth and record quarterly free cash flow. Cable's results highlight revenue growth in every product, led by Video and High-Speed Internet, and overall customer growth, as we continue to effectively balance financial and customer performance. NBCUniversal's businesses also generated strong first quarter performance, led by Film and Cable Networks. We completed the acquisition of NBCUniversal during the quarter and look forward to continuing to drive innovation and operational excellence to deliver superior entertainment and communications choices for consumers."
