NEW YORK (TheStreet) -- Comcast Corp. (CMCSA) shares are higher by 0.17% to $60.19 on Tuesday after its NBC unit said it sold $1 billion in national broadcast, cable and digital ad sales for the 2016 Summer Olympics in Rio de Janeiro.
"The value of live, big-event programming is more important than ever to advertisers because of its ability to reach large audiences," said Seth Winter, EVP, Advertising Sales, NBC Sports Group.
There are 129 days until the Rio Olympic Games open on August 5. So far, the company noted it was on track for the "most national ad sales for any network for any media event in U.S. history."
In 2012, the London Olympics was the most-watched television event in U.S. history, as NBC pulled in over 219 million viewers in the U.S.
Based in Philadelphia, Comcast operates as a media and technology company worldwide.
Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of A+.
The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, growth in earnings per share, increase in net income and good cash flow from operations. We feel its strengths outweigh the fact that the company shows low profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles' author.
You can view the full analysis from the report here: CMCSA