You will be redirected back to your article in seconds

Comcast Q1 Profit Rises 3.6% as Video Subscribers Increase

Cable giant Comcast Corp. said first-quarter profit rose 3.6% as the company increased the number of subscribers to its video and high-speed Internet offerings and its large NBCUniversal entertainment unit notched increases in fees from affiliates.

The Philadelphia-based company, which is said to be considering the purchase of Dreamworks Animation, said net income in the period came to $2.13 billion, or 87 cents per share, compared with 81 cents a share, or $2.06 billion in the year-earlier quarter. Earnings came to 84 cents a share after excluding one-time gains.

Revenue rose 5.3% to $18.8 billion, the company said.

In a notable disclosure, the company said its video customers increased by 53,000, a development that moves counter to the notion that more consumers, particularly younger ones, are abandoning cable and satellite-based pay-TV in favor of subscription-video-on-demand services like Hulu, Amazon and Netflix. Comcast said the new-subscriber totals represented its best results for a first quarter in nine years,  and also said it added 438,000 high-speed Internet customers.

Revenue from the company’s cable operations rose 6.7% to $12.2 billion, the company said.

At NBCUniversal, revenue spiked at the unit’s theme parks owing to inclusion of results from Universal Studios Japan. The company bought out its partners in the venture last year. However, revenue from filmed-entertainment and broadcast operations fell, owing to comparisons with the year-earlier period which included revenue from a broadcast of a Super Bowl game and the release of “Fifty Shades of Grey.”

Overall, revenue at NBCUniversal rose 3.9% to $6.9 billion in the period.

The subject of the possible DWA acquisition will undoubtedly be raised later this morning during the company’s conference call with Wall Street analysts.

Popular on Variety

More Biz

  • Endeavor co-founder Ari Emanuel

    Endeavor Aims to Raise $620 Million With IPO

    Endeavor disclosed Monday that it expects a price between $30 and $32 per share for its initial public offering in the fall. Endeavor — the parent company of WME, UFC, IMG, Endeavor Content, Professional Bull Riders and other assets — aims to raise as much as $620 million with the sale of 19.4 million shares. [...]

  • Overall View of the Rose Bowl

    One Dead, One Injured in Rose Bowl Parking Lot Shooting

    One person was killed and another was injured Saturday night following a shooting in a Rose Bowl parking lot, the Pasadena police confirmed. According to a statement from the police department, police responded to reports of a physical altercation and shots fired at 11:22 p.m. near the area of Arroyo Boulevard and Seco Street, where [...]

  • Felicity Huffman

    Felicity Huffman Issues Apology After Receiving Prison Sentence: 'There Are No Excuses'

    Felicity Huffman issued a long statement of apology on Friday after receiving a two-week prison sentence for paying to illegally boost her daughter’s SAT score. In the statement, Huffman, in addition to saying  she accepts the court’s decision, acknowledges and apologizes to other parents fighting to get their children into college. Along with the prison [...]

  • Actress Felicity Huffman (C-L) and her

    Felicity Huffman Sentenced to 14 Days in Prison in SAT Cheating Case

    Felicity Huffman was sentenced on Friday to 14 days in prison for the crime of paying $15,000 to boost her daughter’s SAT score. Judge Indira Talwani also ordered her to serve 250 hours of community service and a year of probation, and pay a $30,000 fine. The sentence came as a surprise, as Talwani had [...]


    Rihanna Sings (Briefly), Pharrell and DJ Khaled Rock the Mic at Star-Studded Diamond Ball

    In just five years, Rihanna’s Diamond Ball has become one of the music industry’s biggest events of its kind, nearly on the level of the Clive Davis Pre-Grammy Gala. While there are several dazzling charity events with equal starpower and often-unique performances, what makes the Diamond Ball different is, obviously enough, Rihanna’s supernova aura and [...]

  • Amber Heard Seeks Info on Johnny

    Amber Heard Seeks Info on Johnny Depp's Arrests and Substance Abuse

    Amber Heard is asking Johnny Depp to turn over records related to his arrests and drug treatment, as her lawyers defend her from a $50 million defamation suit. Depp filed suit in March, accusing his ex-wife of tanking his career by writing a Washington Post op/ed alluding to her domestic violence allegations against him. Heard [...]

More From Our Brands

Access exclusive content