Comcast
The cable-TV giant is bucking the trend among cable companies by making more money from its TV subscribers.
Comcast, with strong results from newly acquired NBC Universal, reported Wednesday that its net income rose to $1.02 billion, or 37 cents per share, for the April- June period, up 16 percent from $884 million, or 31 cents per share, a year ago.
Excluding a tax adjustment and costs related to the NBC deal, which closed in January, earnings came to 42 cents per share, beating the 41-cent average expected by analysts polled by FactSet. Revenue rose 51 percent to $14.3 billion.
Dunkin’ Brands
Flat earnings following its becoming a public company a week earlier prompted plans to rejuvenate the struggling Baskin-Robbins brand in the U.S. and expand its Dunkin’ Donuts chain in Europe.
Dunkin’ said net income fell 1 percent in the quarter ended June 25, to $17.2 million, weighed down by the higher costs for ingredients. Earnings excluding one-time items fell about 3 percent, to $24.7 million, which the company said was because it paid higher interest costs before retiring some of its debt. Revenue climbed about 4 percent to $157 million.
Clorox
The consumer-products company is staying the course as it fends off Carl Icahn’s bid to buy the company. Executives refused to elaborate on turning down Icahn’s bid last month and instead focused on fiscal fourth-quarter earnings, which exceeded analysts’ expectations.
For the quarter ended June 30, Clorox reported a profit of $169 million, down from $171 million a year earlier. On a per-share basis, earnings rose to $1.26 from $1.20 as shares outstanding decreased. Net sales edged up 3.7 percent, to $1.48 billion.
Time Warner
Second-quarter profit rose 14 percent as revenue from its cable-television, movie and magazine businesses rose.
Net income rose to $638 million, or 59 cents a share, from $562 million, or 49 cents a share, a year earlier, Time Warner said Wednesday in a statement. Excluding some items, profit was 60 cents a share. Analysts surveyed by Bloomberg estimated 56 cents on average. Sales climbed 10 percent to $7.03 billion.
