Comcast posts 26% hike in Q4 profits, tops Street
20.05.12
Comcast ( NASDAQ:CMCSA ; CMCSK) said Wednesday its fourth quarter profits increased 26 percent, largely on the strength of its internet and business services segments.
For the three months that ended December 31, the entertainment and telecommunications giant posted net income of $1.29 billion, or $0.47 per share, up 26.4 percent from $1.02 billion, or $0.36 per share, a year earlier.
Analysts polled by Thomson Reuters had expected just 41-cents per share in profits.
Revenues hiked 54.7 percent to $15.04 billion, from $9.72 billion in the same period last year.
CEO Brian L. Roberts said: "Last year was a very important year for our company. Cable continued to drive innovation, increase new product introductions and transform the customer experience, and we successfully integrated NBCUniversal.
"We also reported strong financial and operating results in both the fourth quarter and for the full year. Specifically, cable had another terrific quarter of improving customer metrics, demonstrating that our new XFINITY brand and our intensified focus on service and innovation are making a real difference.
Source: Proactive Investors USA & Canada