Earnings Up 30 Percent for Comcast

NEW YORK: Comcast Corporation reported an increase of 30 percent for its Q1 profit, boosted by Super Bowl advertising and continued growth from its Internet services.

For the quarter ended March 31, net income grew from $943 million to $1.22 billion. The company posted consolidated revenues of $14.9 billion, an increase of 23 percent.

At NBCUniversal, revenue was up 18 percent to $5.5 billion. This was in large part because NBC scored $259 million for advertising from the Super Bowl. The NBCU cable networks drew in $2.1 billion in revenue, a 5.8-percent growth.

There was a 10.3-percent increase in high-speed Internet revenue. The company added 439,000 high-speed Internet customers in the period.

Brian L. Roberts, the chairman and CEO of Comcast Corporation, said, “We are off to a great start in 2012, with strong revenue and cash flow growth and record quarterly free cash flow. Cable’s results show real momentum in high-speed Internet and business services, and continuing improvements in video results and voice services. As we continue to drive innovation and bring the XFINITY brand to life, we’re delivering more and better products and transforming the customer experience.

We are also pleased with the performance of NBCUniversal, which posted strong revenue growth, led by the Super Bowl and successful film releases, along with reliable growth in our Theme Parks and Cable Networks, and steady progress in Broadcast. NBCUniversal and Cable Communications are also working well together to launch new programs and offer innovative products. We are looking forward to events like the Olympics that will bring together all of our company’s unique abilities to deliver compelling stories and new digital experiences across every screen, in and out of the home.”