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Net income for the fiscal third quarter rose to $2.1 billion, or 78 cents per share, a boost shareholders are sure to relish after last year’s same quarter saw profits of $908 million, or 33 cents per share. Sales also beat analysts’ expectations, rising 15 percent to $16.5 billion.
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Comcast, the world’s largest cable TV provider, is now realizing the benefits from investments poured into NBC, of which Comcast is the majority owner. The cable company has upgraded video services, boosted broadband speeds, and produced significant ratings gains at NBC, which had been marred by slipping ratings prior to Comcast’s revitalization efforts.
NBC’s new lineup of shows is attracting higher numbers of viewers aged 18 to 40 years old, a key demographic. Also contributing the increased profits were stronger revenues from advertising and a decline in the loss of subscribers.
“Their operations are solid,” Brean Capital LLC analyst Todd Mitchell said of Comcast. Mitchell has recommended buying shares of the cable company, which have risen nearly 3.5 percent on Friday.
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