Comcast Corp. , the No. 1 U.S. cable operator, reported a nearly 9 percent decline in quarterly profit as it absorbed expenses related to its highly anticipated acquisition of NBC Universal.
While costs associated with the NBCU deal, including professional fees, undercut the cable company's overall profit, its revenue rose a higher-than-expected 6 percent as it continued to add Internet and telephone customers.
Comcast said on Wednesday that net income fell to $884 million, or 31 cents a share, from $967 million, or 33 cents a share, a year earlier. Revenue climbed to $9.53 billion, surpassing the average estimate of $9.29 billion, according to Thomson Reuters I/B/E/S.
Comcast added 118,000 high-speed Internet customers during the period, or about 82 percent more than year-earlier additions. It added 230,000 digital phone subscribers, similar to the number of additions it posted in the period a year ago.
Comcast is hoping to close the deal for a majority stake in NBC Universal, home of the NBC broadcast network and a suite of cable channels like USA, from General Electric Co by late this year. The deal is currently undergoing regulatory review, but once completed will give Comcast the rare position of both creating TV shows and delivering them to customers.
(Reporting by Paul Thomasch; Editing by Lisa Von Ahn)