Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Comcast Q1 earnings, revenue surpass estimates as company adds more Internet subscribers

Comcast Q1 earnings, revenue surpass estimates as company adds more Internet subscribers

Comcast (NASDAQ:CMCSA) advanced in morning trades after the largest U.S. cable provider reported better-than-estimated profit and revenue growth in the first quarter after signing up more Internet customers.

Net income rose to $2.1 billion, or $0.81 per share, in the January-to-March quarter, from $1.87 billion, or $0.71 per share, a year earlier.

Excluding items, profit was $0.79 per share. This beat analysts' estimates of $0.74 per share, according to Capital IQ data.

Revenue grew 2.6 percent to $17.9 billion, above the Wall Street consensus of $17.4 billion.

The average monthly bill rose 4.7 percent to $140.41.

The number of Comcast's high-speed Internet customers grew by 6.2 percent to 407,000. Revenue from the business was up about 11 percent to $3.04 billion.

But the company lost 8,000 video subscribers, compared with additions of 24,000 a year ago.

In a sign of how Comcast’s business is changing, the number of Internet subscribers -- more than 22 million -- surpassed the number of cable-TV subscribers for the first time after the quarter ended.

Voice subscriber additions slowed to 77,000 from 142,000 additions a year ago.

Business services revenue was up 21.4 percent to $1.11 billion.

Overall, at the company’s cable business, which accounts for the bulk of the top line, revenue grew 6.3 percent to $11.4 billion.

Sales at Comcast’s NBCUniversal group, which includes the NBC broadcast network, cable channels such as USA and MSNBC, and the Universal film studio, declined 4 percent to $6.6 billion, due partly to a decline in ratings.

The results followed recent news that the company had abandoned its $45 billion takeover of Time Warner Cable after intense regulatory scrutiny. Costs related to the deal came to $99 million during the first quarter. That brings the total costs related to the deal to $336 million since the deal was announced in February 2014.

Comcast also said today that it plans to buy back an additional $2.5 billion in stock during 2015, bringing its total 2015 share-buyback plan to $6.75 billion.



View full CMCSA profile View Profile

Comcast Timeline

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use