Comcast posts revenue and profit jump
01 August 2013 | Natasha Culzac
US cable provider Comcast has reported a profit jump of 28.6% in the second quarter.
Comcast’s latest financial results have reportedly surpassed expectations and the results are expected to bolster the internet broadband business for the largest cable company in the US.
Total revenue rose 7% to $16.3 billion compared to the same quarter last year, while earnings rose to $1.73 billion from $1.35 billion. Shares increase from $0.50 to $0.65.
“We are pleased with our results this quarter. Cable had outstanding growth, particularly in high-speed Internet, and NBCUniversal had strong performance across all of its businesses,” said Brian Roberts, chairman and CEO of Comcast. “Our focus on delivering innovative products and a superior customer experience is driving our success, including stronger video, voice and business services results in cable.”
Part of its success is due to its full acquisition of NBC Universal earlier this year. The company originally had a 51% share but increased this to 100%.