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Comcast Profit Rises on Better Video, Web Subscribers

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.
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