Comcast, the cable and entertainment conglomerate, reported a 10 percent increase in earnings in the first quarter, driven by growth in its high-speed Internet business.þþTotal revenue inched up 2.6 percent to $17.9 billion during the quarter compared to the same period last year, the company said Monday. Without counting sales tied to the 2015 Super Bowl and the 2014 Olympics — both of which were broadcast on NBC, which Comcast owns — revenue increased 7.2 percent during the period.þþNet income attributable to Comcast was $2.1 billion for the quarter, up 10 percent from the same period last year.þþThe results followed recent news that the company had abandoned its $45 billion takeover of Time Warner Cable after intense regulatory scrutiny. Costs related to the deal came to $99 million during the first quarter. That brings the total costs related to the transaction to $336 million since the deal was announced in February 2014.þþComcast, the largest cable operator in the country, is expected to detail its plans for moving forward during a conference call with investors on Monday morning.þþThe company’s cable group reported a 6.3 percent increase in revenue to $11.4 billion. The company lost 8,000 video subscribers for the quarter but added 407,000 high-speed Internet subscribers.þþRevenue in the company’s NBCUniversal entertainment group tumbled 4 percent during the quarter to $6.6 billion. Subtracting for sales tied to the 2015 Super Bowl and 2014 Winter Olympics, revenue increased 7.9 percent to $6.2 billion.
Source: Chicago Tribune
