The cable companies are wrapping up their slice of reporting season, and the group continues to make strides -- to a greater extent than many observers recognize -- toward dramatically upgrading their offerings to the benefit of both customers and investors.
The latest quarter was the first to reflect the results of its new combination with NBCUniversal, which until recently was owned by General Electric
For the quarter, the new company posted earnings of $943 million, or $0.34 per share, compared with $866 million, or $0.31 per share a year ago. Without costs tied to the merger, which occurred on Jan. 28, the per-share figure would have reached $0.36. Revenues increased 31.8% to $12.1 billion.
As CEO Brian Roberts noted in surveying the quarter, "While we've only been operating the NBCUniversal business for three months, we're encouraged by a seamless integration, and we are working diligently to invest and build value for our customers."
It's possible that yet another combination could be in the offing for the cable group. Time Warner Cable
In the quarter, Time Warner generated net income of $325 million, a 52% hike over the $214 million in the first quarter of 2010. Its per-share earnings rose to $0.93 year on year from $0.60. Its revenues were up 5% to $4.8 billion.
On his company's call, Time Warner Cable CEO Glenn Britt said:
"This is really an exciting time in our business. New technology is making it possible for us to provide a better video experience for our customers. Nowhere is this more evident than in our iPad app."
The company now provides 70 channels to its iPad customers.