Comcast Corp (CMCSA) released its first quarter results on Thursday, April 29, 2021. The company reported net earnings of $0.71 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 53 percent compared to the same period a year ago.
Comcast Corporation was founded in 1963 and is headquartered in Philadelphia, Pennsylvania. Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments.
Comcast's revenue decreased 4 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 67.22% for the first quarter compared to the same period in the previous year, and operating margins increased to 18.52% over the same period. Net earnings for past trailing twelve months were $11716.0 million, up 1% from the prior year.
Moving on to the balance sheet, Comcast’s cash levels jumped 75% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 9.49% this past year. The current ratio for Comcast now stands at 0.96. The company increased shares outstanding by 0.66%.
Shares of CMCSA are currently trading around $56.15. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 22.23 and price to book ratio of 2.83.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Saturday, May 1, 2021.