Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Comcast Profit Rises on Better Video, Web Subscribers
http://www.cnbc.com//id/46386883


Comcast on Wednesday reported quarterly earnings and revenue driven by better-than-expected video and Internet subscriber additions, beating analysts' expectations and sending its shares higher in premarket trading

Fourth-quarter net income rose to $1.29 billion, or 47 cents a share, from $1.02 billion, or 36 cents a share, a year earlier.

Revenue rose 3 percent to $15 billion, an increase from $9.72 billion a year ago.

...

The leading U.S. cable TV provider, which controls broadcaster NBC Universal, raised its dividend by 44 percent to 65 cents a year and announced a new share buyback program of $6.5 billion.

"Today is a very sizeable increase and we hope a consistent beginning and continuation in increases in dividends," company CEO Brian Roberts said in a CNBC interview.

...

Roberts attributed the earnings power to the company's broadband growth and commitment to delivering it across all venues.

"A lot of good things are happening with the company," he said in a CNBC interview. "It was an exciting quarter, a great year — the first year with NBC Universal — and a nice way to start off 2012."

On the NBC acquisition, Roberts said the company's cable holdings are doing well, while turning around the network, which "we've always said is going to take several years," is progressing with the success of shows such as "The Voice" and "Smash," a musical drama that premiered two weeks ago.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.