Comcast posts higher revenue

$1 bil in 1st-qtr net income

NEW YORK — Comcast said Tuesday that revenue in its most recent quarter rose to $2.2 billion from $1.94 billion last year thanks to growth at its core cable, electronic retailing and content businesses.

The Philadelphia-based cabler owns QVC, cable net E! and a handful of other assets. Company posted first-quarter net income of $1 billion, which included $384.5 million for an accounting change and $1.2 billion in “other income.” Last year the company posted a$191.5 million net loss for the quarter.

Higher operating costs and depreciation and amortization expense pushed Comcast to an operating loss of $100 million from a profit of $41 million a year ago.

Company boosted its estimate for full-year cash flow growth to 12%-13% from 10%-11%.

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