Comcast 1Q earns beat Street on upbeat NBC result

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Associated Press

Posted on April 22, 2014 at 5:00 AM

Updated Tuesday, Apr 22 at 5:06 AM

PHILADELPHIA (AP) — Comcast's first-quarter net income rose by nearly a third as ad revenue surged at broadcast network NBC, helped by the Winter Olympics in Sochi and Jimmy Fallon's elevation as host of "The Tonight Show."

Net income rose to $1.87 billion, or 71 cents per share, in the January-March quarter from $1.44 billion, or 54 cents per share a year ago.

Excluding one-time items, adjusted earnings came to 68 cents per share, beating the 64 cents expected by analysts polled by FactSet.

Revenue grew 14 percent to $17.41 billion from $15.31 billion. That's also higher than the $16.99 billion expected by analysts.

NBCUniversal revenue grew 29 percent to $6.88 billion while cable services revenue grew 5 percent to $10.76 billion.

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