Why Comcast (CMCSA) Stock Is Gaining Today

NEW YORK (TheStreet) -- Comcast (CMCSA) stock is edging higher on Tuesday after the cable company reported double-digit earnings growth in its first quarter.

Before market open, shares had added 1.2% to $50.50.

Philadelphia-based Comcast reported adjusted net income of 68 cents a share, 4 cents higher than analysts surveyed by Thomson Reuters expected.

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Revenue climbed 13.7% to $17.41 billion, boosted by a 73% increase in sales at its NBC network after its broadcast of the Sochi Olympics in February. Analysts were expecting revenue of $17.04 billion.

Comcast, the largest U.S. cable company, made a $45.3 billion offer to acquire Time Warner Cable (TWC), the second-largest cable company, earlier in the year. Though that deal has yet to receive regulatory approval, Comcast said it has spent $17 million in acquisition-related costs this quarter.

TheStreet Ratings team rates COMCAST CORP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:

"We rate COMCAST CORP (CMCSA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and attractive valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

Must Read: Warren Buffett's 10 Favorite Growth Stocks

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