Comcast reported high revenues for lower-than-expected losses

On Wednesday, Jan 23, Comcast Corp reported analysts’ estimate beating quarterly revenue.

The escalating results mostly came up on the heels of growing businesses of theme park and broadcast television and losing lower-than-expected number of video subscribers during the reported quarter, after which the Philadelphia-based company announced to be raising its dividend by 10 percent.

In the fourth quarter revenue rose by 26.1 percent to $27.85 billion which came up as $28.28 billion after adjustments, thus beat the analyst expected revenue of $27.55 billion by IBES data from Refinitiv.

Net income attributable to the company remained $2.51 billion or 55 cents per share, which was 83.3 percent less than a year earlier net income of $15.00 billion or $3.17 per share that was surged because of a one-time benefit of $12.7 billion from the U.S. tax overhaul reported in that quarter.

Company, in the fourth quarter, lost 29,000 video customers, less than a year ago loss of 33,000 and well below from the 62,000 as estimated by the analysts, according to research firm FactSet.

Net new customer addition saw slow pace of 20 percent in the quarter and added 164,000 new-to-the-service customers, but on full year scale, new additions came accelerating at 34.1 percent.

Comcast’s video segment saw a fall of 1.6 percent which generated revenue of $5.58 billion, whereas its filmed entertainment grew by 14 percent.

Revenue from theme park jumped 3.6 percent to $1.51 billion, while broadcast television revenue increased about 4 percent to $3.10 billion.

Comcast’s high-speed internet business added 351,000 new subscribers, which was more than 350,000 from last year but less than estimates of 356,000 and revenue from that segment rose 10.1 percent to $4.40 billion.

During the quarter, net phone lines added by its Xfinity Mobile business were 227,000 which were 187,000 in same quarter a year ago.

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Maria Wiggins

Written by Maria Wiggins

Maria Wiggins:- News Stories
I am Maria Wiggins and I have over 11 years experience in the Technology industry giving me a vast understanding of how news affects the financial markets. I am an active day trader spending the majority of my time analyzing earnings reports and watching commodities and derivatives. I have a Masters Degree in Economics from Westminster University with previous roles counting Investment Banking.

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