Comast said first-quarter earnings came in at 53 cents a share, well ahead of the 44 cent forecast complied by FactSet and up more than 20% from the same period last year. Revenue for the period also topped forecasts, rising 8.9% to $20.46 billion and beating the consensus of $20.1 billion.
"2017 is off to the fastest start in five years," said CEO Brian Roberts. "We are reporting outstanding growth at Cable and particularly NBCUniversal, which delivered 14.7% revenue growth and 24.4% Adjusted EBITDA growth. These impressive results were fueled by exceptionally strong film performance, increased affiliate and retransmission revenues at our TV businesses, and continued growth in Theme Parks."
Revenue at Comcast's NBCUniversal unit was up 14.7%, the company said, taking adjusted operating earnings 24.4% higher to just over $2 billion. Cable Communications revenue jumped 5.8% to $12.9 billion, the company said, while operating earnings outpaced, rising 6.3% to $5.2 billion.
Comcast shares closed at $38.79 in New York Wednesday after rising 0.78% on the session and extending their year-to-date gain to 12.8%, just ahead of the 11.9% gain for the Nasdaq benchmark.