Comcast (CMCSA) Beats Q4 Views on Solid Sub Gains; Boosts Buyback, Dividend

February 15, 2012 8:27 AM EST
Shares of Comcast (Nasdaq: CMCSA) are indicated for a much higher open Wednesday following strong fourth-quarter earnings results.

Total revenue rose 55.7 percent from $9.72 billion during the same quarter last year to $15.04 billion, beating expectations calling for $14.87 billion in revs.

Net income rose 26 percent to $1.29 billion, or 47 cents per share, beating consensus views of 41 cents.

Throwing off even more cash this quarter ($1.9 billion versus $1.1 billion in the previous year), Comcast decided to boost its dividend 44 percent to 16.25 cents. At an annual rate of 65 cents, the dividend yields 2.4 percent, in-line with previous increases. Comcast also approved a new $6.5 billion buyback plan.

For customer additions, Comcast tacked on a total of 465,000. Notably, video customer losses fell dramatically, from 757 million last year to 17 million in the recent quarter.

NBCUniversal revs rose just 0.8 percent to $5.7 billion, as broadcast TV reported a 3.7 percent dip offset by a 5.3 percent gain in cable networks.

Comcast shares are about 6 percent better early Wednesday.

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