On Wednesday, Comcast Corporation (NASDAQ: CMCSA) announced its financial results for the first quarter of 2018. Shares of Comcast increased over 3% in morning trading today.
According to the company, consolidated revenue increased 10.7% to $22.791 billion for the first quarter, which beat analysts’ estimates of $22.744 billion. Cable communication revenue rose 3.6%, and NBCUniversal revenue increased 21.3% for the first quarter.
For the first quarter, earnings per share rose 24.5% to $0.66 per share, and adjusted earnings per share increased 17% to $0.62, beating analysts’ estimates of $0.59 per share. In addition, adjusted EBITDA of Cable Communications was up 4.7% for the quarter, and adjusted EBITDA of NBCUniversal increased 13.1%.
“Comcast NBCUniversal is off to a great start in 2018 with over 10% revenue growth in the first quarter. At Cable Communications, our steady increase in customer relationships continued, balanced with solid growth in EBITDA, reflecting momentum in our high-speed Internet and business services segments,” Brian L. Roberts, the Chairman and Chief Executive Officer of Comcast Corporation, said in the statement on Wednesday.
“NBCUniversal’s amazing presentation was the most comprehensive in Winter Games history with over 2,400 hours of coverage across broadcast, cable networks, and digital, and Cable’s best-in-class technology delivered an unparalleled viewing experience, resulting in 26% higher ratings among our X1 customers than the national average. I’m proud of our teams across Comcast NBCUniversal and believe we are well-positioned for the future,” said Brian.