Cable TV and Internet provider Comcast Corporation ( CMCSA ) late Tuesday said its first quarter profit rose 9% from last year, helped by the addition of revenue from its recent acquisition of entertainment giant NBC Universal from General Electric ( GE ).
The Philadelphia-based company reported first quarter net income of $943 million, or 34 cents per share, compared with $866 million, or 31 cents per share, in the year-ago period.
Revenue surged 32% from last year to $12.1 billion.
On average, Wall Street analysts expected a matching profit of 34 cents per share, albeit on higher revenue of $12.97 billion.
Comcast shares rose 39 cents, or +1.5%, in premarket trading Wednesday.
The Bottom Line
Shares of Comcast ( CMCSA ) have a 1.69% dividend yield, based on last night's closing stock price of $26.61. The stock has technical support in the $24 price area. If the shares can firm up, we see overhead resistance around the $28-$30 price levels.
Comcast Corporation ( CMCSA ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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