PHILADELPHIA (AP) _ Comcast Corp. (CMCSA) on Thursday reported first-quarter profit of $2.15 billion.
The Philadelphia-based company said it had net income of 46 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, came to 71 cents per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The cable provider posted revenue of $26.61 billion in the period, which missed Street forecasts. Thirteen analysts surveyed by Zacks expected $26.84 billion.
Comcast shares have dropped 13% since the beginning of the year, while the Standard & Poor’s 500 index has fallen 9%. The stock has dropped 10% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMCSA at https://www.zacks.com/ap/CMCSA
The Associated Press