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Comcast Revs Rise, Profits Slip on NBC Costs

  • Reuters, Wednesday, July 28, 2010 11:23 PM
Comcast Corp. reported a better-than-expected 6% rise in quarterly revenue, but the cable giant's profit was undercut by fees it paid to bankers and lawyers involved in its acquisition of NBC Universal. The result is that revenue climbed to $9.53 billion, surpassing the average estimate of $9.29 billion, according to Thomson Reuters I/B/E/S. Analysts said that overshadowed a slight decline in profit, with fell to $884 million, or 31 cents a share, from $967 million, or 33 cents a share, a year earlier.

If the NBC Universal deal closes, Comcast will not only be delivering customers TV shows and movies, it will also be the company behind their production. Costs associated with the deal totaled about $37 million in the second quarter.



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