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Comcast’s Adjusted Q2 Net Beats View (CMCSA)

Cable TV and Internet provider Comcast Corporation ( CMCSA ), which has stepped into the entertainment business with its acquisition of NBC Universal from General Electric ( GE ), on Wednesday posted higher-than-expected second quarter earnings.

The Philadelphia-based company reported second quarter net income of $1.02 billion, or 37 cents per share, compared with $884 million, or 31 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 42 cents per share.

Revenue surged 51% from last year to $14.3 billion, aided chiefly by its acquisition of NBC Universal.

On average, Wall Street analysts expected a slightly smaller profit of 41 cents per share on lower revenue of $13.7 billion.

Comcast shares rose 30 cents, or +1.3%, in premarket trading Wednesday.

The Bottom Line

Shares of Comcast ( CMCSA ) have a 1.98% dividend yield, based on last night's closing stock price of $22.73. The stock has technical support in the $20-$22 price area. If the shares can firm up, we see overhead resistance around the $26-$27 price levels.

Comcast Corporation ( CMCSA ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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