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Comcast tops 1Q net income and revenue expectations

PHILADELPHIA – PHILADELPHIA (AP) _ Comcast Corp. (CMCSA) on Monday reported first-quarter profit of $2.06 billion.

On a per-share basis, the Philadelphia-based company said it had profit of 81 cents. Earnings, adjusted for non-recurring gains, came to 79 cents per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.

The cable provider posted revenue of $17.85 billion in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $17.35 billion.

Comcast shares have climbed roughly 1 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 2 per cent. The stock has increased 12 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMCSA at http://www.zacks.com/ap/CMCSA

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Keywords: Comcast, Earnings Report, Priority Earnings