Comcast Shares Rise After NBCUniversal Deal Revealed
Comcast shares were up as much as 8 percent in after-hours trading Tuesday after the company reported decent quarterly earnings but said it would pay $16.7 billion to General Electric for the 49 percent of NBCUniversal the cable company doesn't already own.
Net income rose 18 percent during the fourth quarter to $1.52 billion, compared with $1.29 billion during the same frame a year earlier. Revenue rose 6 percent to $15.94 billion, slightly shy of analysts' expectations.
Comcast shares rose nearly 1 percent to $38.97 during Tuesday's regular session and kept moving higher after the closing bell.
Revenue at the conglomerate's cable communications segment rose 7 percent to $10.1 billion, in part because of political advertising. Comcast subscribers spent an average of $153.54 a month during the quarter, up nearly 9 percent.
Revenue at NBCUniversal grew nearly 5 percent to $6 billion, driven by strong results in broadcast TV, theme parks, cable networks and filmed entertainment.
Revenue at the film unit was up 9 percent to $1.4 billion on encouraging theatrical results for Les Miserables, Pitch Perfect and This Is 40. Ted and The Bourne Legacy also performed admirably on home video.