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NBC Acquisition Drives Comcast’s Q1 Earnings (CMCSA)

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.

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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