Summary Box: Comcast 1Q net rises 30 pct

AP News
Posted: May 02, 2012 5:18 PM
Summary Box: Comcast 1Q net rises 30 pct

STRONG QUARTER: The country's largest cable company is doing better than most: it's attracting more broadband customers and losing fewer TV subscribers. Results were also strong in the quarter for NBC Universal, the more volatile TV network and movie division.

BOTTOM LINE: Comcast's net income rose 30 percent to $1.22 billion, while revenue rose 9.6 percent to $14.9 billion.

INVESTOR REACTION: Comcast shares fell 2.8 percent, retreating from a 12-year high hit the day before. Analyst Christopher King at Stifel Nicolaus attributed the sell-off to profit-taking.