Tomahawk, WI 04/22/2014 (Basicsmedia) – People are willing to spend top dollar to get their fix of TV and cable entertainment and cable operators are among the beneficiaries. Being the largest cable operator in the country, Comcast Corporation (NASDAQ:CMCSA) is seeing growing profits and revenues.
Revenues for 1Q2014 increased by 13.7% to reach $17.4 billion compared to $15.3 billion in 1Q2013. Cash flow increased by 10.0% to $5.54 compared to $5.0 billion in 1Q2013. EPS increased by 31.5% to reach $0.71 in 1Q2014 compared to $0.54 in 1Q2013. Revenues for the Cable Communications segment increased by 5.3% to reach $10.7 billion compared to $10.2 billion in 1Q2013 with a 9.0% growth in high speed Internet and 23.9% growth in business services.
Total customer relationships increased by 124,000 to reach 26.8 million in 1Q2014 compared to 26.6 million in 1Q2013. Operating cash flow for the Cable Communications segment increased by 4.3% to reach $4.4 billion in 1Q2014 compared to $4.2 billion 1Q2013.
Revenues at NBCUniversal increased by 28.8% to reach $6.9 billion in 1Q2014 compared to $5.3 billion in 1Q2013 on the back of the 2014 Sochi Winter Olympics that generated $1.1 billion in revenues. Cash flow increased by 37.6% to reach $1.3 billion in 1Q2014 compared to $953 billion in 1Q2013.
Movies and Theme Parks
Revenues from the Filmed Entertainment division increased by 11.1% to reach $1.4 billion in 1Q2014 compared to $1.2 billion in 1Q2013 rising on the backs of hit movies such as The Wolf of Wall Street. Theme Park segment revenues increased by 5.4% to reach $487 million in 1Q2014 compared to $462 million in 1Q2013.
Time Warner Cable Inc (NYSE:TWC) Acquisition
Comcast Corporation (NASDAQ:CMCSA) might make concessions to the regulators to succeed in acquiring Time Warner Cable as anti-trust issues have been raised by the regulators. To make the deal more palatable to the regulators, Comcast might sell off about three million of its subscribers to Charter Communications Inc. (NASDAQ:CHTR). The three million figure may even go up to five million, according to analysts.
Increased Xfinity Internet Speed
Comcast Corporation (NASDAQ:CMCSA) is keeping its subscribers happy with an increase in the speeds of two of its Xfinity Internet tiers. The speed bump will be free for the customers. In the Northeast, the Xfinity Internet Blast tier now goes up to speeds of 105 Mbps compared to earlier speeds of 50 Mbps while the Xfinity Extreme 105 tier now goes up to speeds of 50 Mbps compared to earlier speeds of 105 Mbps. With this, Comcast has enhanced the speed of its Blast tiers for the second time in two years.