Comcast Corp reported a better-than-expected 6 percent 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.
Comcast, which has been working closely with regulators and hopes to close the NBC Universal deal late this year, benefited from more of its customers buying a more expensive package of services, signing up for phone, cable and broadband, for instance. A rebound in advertising also helped.
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 More…