No deal, no problem.
Shares in Comcast, the cable provider that walked away from its $ 45bn attempted takeover of Time Warner Cable 10 days ago, were among the early movers in pre-market trading on Monday after first quarter results comfortably beat estimates, reports Matt Garrahan in New York.
Net income for the three months to end of March rose from $ 1.9bn to $ 2.1bn, boosted by gains in the number of subscribers to its broadband services and a strong showing at its NBC Universal division, which broadcast the Super Bowl during the quarte and scored with the hit Fifty Shades of Grey.
Comcast ended the quarter with almost as many broadband as video customers – 22.37m compared with 22.375m – but in the last few weeks the number of broadband customers has surpassed video.
Earnings per share rose from $ 0.74 to $ 0.79, excluding adjustments. Analysts had been expecting earnings per share to have been flat at about $ 0.74.
The cable and broadband operator incurred $ 99m of costs relating to the Time Warner Cable bid, which it withdrew two weeks ago in the face of mounting regulatory opposition.
The shares were up 1.9 per cent in pre-market trading.
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