Comcast Corp. reported better-than-expected financial results and added video customers again in the first quarter, extending a strong streak for the cable industry in a weak overall pay-TV market. The company added 53,000 video customers, compared with a loss of 8,000 in the prior-year quarter. Its quarterly profit rose to $2.13 billion, or 87 cents a share, up from $2.06 billion, or 81 cents a share, a year ago. Excluding certain gains and costs, adjusted profit per share for the latest quarter was 84 cents. Revenue grew 5.3% to $18.79 billion. Both figures exceeded estimates from analysts, who were projecting adjusted earnings of 79 cents a share on $18.6 billion in revenue, according to Thomson Reuters. Since its Time Warner Cable Inc. deal fell apart last year amid regulatory opposition, Comcast has been on the lookout for new deals, investing in digital media companies and theme parks. The company is in talks to buy DreamWorks Animation SKG Inc. for more than $3 billion, The Wall Street Journal reported late Tuesday. Class A shares of Comcast, up 13% over the past three months, rose 2% to $62.30 in premarket trading. DreamWorks Animation shares jumped 20% to $32.50.
Full Story | More BCAP Headlines