Comcast earnings, revenue top expectations
Comcast (NASDAQ: CMCSA) delivered quarterly earnings and revenue that beat analysts' expectations on Monday.
Comcast shares rose in premarket trading following the announcement. (Click here to track the stock (NASDAQ: CMCSA).)
Comcast, which increased its stock buyback program to $10 billion last quarter, said it would now earmark $6.75 billion for 2015, higher than the $4.25 billion it had previously set aside for the year.
Comcast, which abandoned its proposed $45 billion merger with Time Warner Cable (NYSE: TWC) in late April, said on Monday its total revenue rose 2.6 percent to $17.9 billion in the quarter ended March 31.
Last month, Comcast CEO Brian Roberts told CNBC that it was "time to move on" from the deal, adding that the company now has "room for further stock buybacks."
Read More Comcast's Roberts: TWC deal off, 'no looking back'
Net income attributable to Comcast rose 10 percent to $2.1 billion, or 81 cents per share, from a year earlier.
Profit was 79 cents per share after excluding items such as investments and acquisition-related items. This beat analysts' estimates of 74 cents per share, according to Thomson Reuters I/B/E/S.
The company, which added video customers last quarter, said it lost 8,000 subscribers from January through March, compared to the 24,000 additions a year earlier.
Wall Street keeps a close watch on the number of new video subscribers as pay TV operators fight to keep customers amidst intense competition from streaming video services.
The number of Comcast's high-speed internet customers rose by 6.2 percent to 407,000. Revenue from the business was up about 11 percent to $3.04 billion.
Business services revenue was up 21.4 percent to $1.11 billion.
Read More How the Comcast/Time Warner Cable deal fell apart
At NBC Universal, revenue fell 4 percent to $6.6 billion from a year earlier, when it benefited from the 2014 Sochi Olympics.
The Universal theme park business, with its popular "Harry Potter" attraction in Florida, saw revenue rise 34 percent to $651 million.
Advertising revenue at cable networks fell 5 percent in the quarter to $851 million amid a decline in ratings that has hit networks across the TV industry. The NBC broadcast network's ad revenue dropped 16 percent to $1.54 billion.
Revenue at the film studio rose 7 percent from a year earlier to $1.45 billion, bolstered by its blockbuster "Fifty Shades of Grey" film.
(Disclosure: Comcast is the owner of NBCUniversal, the parent company of CNBC and CNBC.com.)
-CNBC's Terri Cullen and Reuters contributed to this report.
More From CNBC
