Comcast Earnings Cheat Sheet: Fifth Consecutive Quarter of Double-Digit Revenue Growth

S&P 500 (NYSE:SPY) component Comcast Corporation (NASDAQ:CMCSA) reported net income above Wall Street’s expectations for the first quarter. Comcast provides cable and communications services to residential and commercial customers.

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Comcast Earnings Cheat Sheet for the First Quarter

Results: Net income for Comcast Corporation rose to $1.22 billion (45 cents per share) vs. $943 million (34 cents per share) in the same quarter a year earlier. This marks a rise of 29.8% from the year-earlier quarter.

Revenue: Rose 22.7% to $14.88 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Comcast Corporation beat the mean analyst estimate of 42 cents per share. It beat the average revenue estimate of $14.43 billion.

Quoting Management: Brian L. Roberts, Chairman and Chief Executive Officer 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

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 42.2%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 54.7% from the year earlier quarter.

The company has now seen its net income increase for three consecutive quarters. In the fourth quarter of the last fiscal year, net income rose 26.4% and in the third quarter of the last fiscal year, the figure rose 4.7%.

The company has now beaten estimates the last two quarters. In the fourth quarter of the last fiscal year, it topped expectations with net income of 47 cents versus a mean estimate of net income of 42 cents per share.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past month, the average estimate for the second quarter has gone up from 48 cents per share to 49 cents. For the fiscal year, the average estimate has moved up from $1.86 a share to $1.88 over the last thirty days.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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